Ryan Launches Software to Support UK Making Tax Digital Compliance

DALLAS (Oct. 15, 2018) ‒ Ryan, a leading global tax services and software provider, recently released Ryan MTD Bridge, an Excel-based software application for corporations seeking an immediate solution to meet the U.K.’s new Making Tax Digital for Business (MTDfB) requirements. MTDfB is a U.K. government initiative that sets out a vision for the “end of the tax return” and a “transformed tax system” by 2020. As a first step toward this transformation, Her Majesty’s Revenue and Customs (HMRC) is requiring businesses to use the MTDfB system to meet their value-added tax (VAT) obligations in 2019. Beginning April 1, companies whose taxable turnover exceeds the VAT registration threshold must begin keeping records digitally and submit VAT returns via HMRC’s application programming interface (API). The portal most commonly used today will no longer be available.

Ryan MTD Bridge is designed to quickly and affordably address this pending VAT compliance requirement while providing an extended timeframe for organizations to strategically address the evolving regulations and remain compliant. Recognizing the majority of U.K. VAT return preparation takes place in Excel, Ryan MTD Bridge was developed in Excel to be easily incorporated into existing processes and is recognized by HMRC.

“Ryan MTD Bridge is designed to fit seamlessly into our clients’ processes and implementation and meet the basic functionality that is required,” said Grant Smith, Ryan principal and Tax Technology practice leader. “We created this product to be a bridge to a permanent solution, with a minimal investment, and be supported by Ryan’s industry-recognized commitment to client service excellence.”

About Ryan

Ryan, an award-winning global tax services and software provider, is the largest Firm in the world dedicated exclusively to business taxes. Headquartered in Plano, Texas, the Firm combines deep tax expertise with practitioner-built technology and comprehensive consulting, compliance, and advocacy capabilities. Supported by the acclaimed myRyan work environment, more than 7,600 team members are empowered to deliver exceptional results for more than 87,000 clients in over 80 countries, including many of the world’s most prominent Global 5000 companies. Driven by a commitment to client advocacy, Ryan helps businesses pay only what they owe, freeing capital to invest, grow, and thrive. More information about Ryan can be found at ryan.com.

MEDIA CONTACT

Melodie Elliott
Director, Content and Communications Marketing
Ryan
972.934.0022
melodie.elliott@ryan.com