London - DataTracks, a global leader in regulatory compliance software and services, today announced that they have been recognised by Her Majesty’s Revenue and Customs (HMRC) in UK on their list of software providers supporting Making Tax Digital (MTD) for VAT. DataTracks’s regulatory compliance solutions are widely used around the world, for reporting in XBRL/iXBRL formats, which includes submissions to HMRC and Companies House. With the digital reporting for VAT filers taking effect from April 2019, DataTracks has designed and developed a software to assist filers with the MTD mandate that is to set to kick off from April 2019.
Following the listing as a recognised software provider supporting MTD, DataTracks has evaluated the solution model in HMRC’s test environment to ensure that their solution meets the expectations of reports being digitally linked for MTD. Filers are invited to participate in MTD pilot phase.
“Backed by the expertise that comes with having generated 150,000+ regulatory reports to date in multiple formats including XML, XBRL and iXBRL, DataTracks is geared to provide a fully automated solution ensuring no manual intervention within the shortest implementation time frame,” said Senthil Kumar, Manager for Product Design, DataTracks. “With an expansive customer base in the UK for regulations such as CRD IV, Solvency II, AIFMD, CT 600, CbCR and FATCA, we wanted to offer our customers a reliable and quick solution for MTD as well, much before the actual mandate (Apr 2019).”
DataTracks is a global leader in disclosure management and regulatory compliance software and services. Seven of the top 10 accounting firms and over 12,000 enterprises across global markets trust DataTracks with their information, counting on their deep expertise to help them inform, decide and comply. Using DataTracks, enterprises across geographies file reports compliant with the standards of regulators like the SEC - US, HMRC - UK, Revenue - Ireland, various EU regulatory authorities, ACRA - Singapore, MCA - India, and CIPC - South Africa. To know why financial accounting firms and enterprises world-over trust DataTracks, please visit www.datatracks.com, www.datatracks.co.uk and www.datatracks.eu
Media contact: Karthik Sathuragiri, President, DataTracks, +91 99860 34993, firstname.lastname@example.org
DataTracks prepares more than 14,000 XBRL statements annually for filing with regulators such as SEC in the United States, HMRC in the United Kingdom, Revenue in Ireland, Eurofiling compliance reports in Europe, ACRA in Singapore and MCA in India. Honed by our experience of preparing more than 164,000 compliance reports, our solutions and services are designed to assure quality, reliability and ease of use.