Description

Fully complies with HMRC’s VAT reporting rules (including Flat Rate Scheme and Standard Scheme). Features include:

Entry of output (sales revenue) and input (purchase expenses) categorized by tax rate

Automatic calculation of Output VAT, Input VAT, and net tax payable/refund

Flat Rate Scheme low-rate calculator (including adjustment for restricted business ratios)

Import VAT (reverse collection) and EU B2B business record area

Directly generates draft VAT return forms (Boxes 1-9) and can export them in XML format for MTD upload

Includes a quick self-check for VAT invoice compliance (five essential elements)