Multi-jurisdictional VAT eases Brexit burden
Whichever side of the Brexit border you might be on, the transactional VAT needs of this new era, have exposed the limitations of many single-jurisdiction accounting systems.
The ability to trade in multiple jurisdictions but also account for VAT with HMRC, Irish Revenue or indeed other jurisdictions, means companies are registering for VAT in those different jurisdictions and need a more seamless way to separate their UK and Irish VAT transactions at the heart of the software, yet still have disparate and seamless links to MTD and Irish / European Revenue submissions.
We are already aware of companies being forced to physically set up separate accounting systems, or cumbersome workarounds for the 2nd jurisdictions even though they are sharing the same staff, stock, projects, contractors, suppliers etc….
This cumbersome need can be easily avoided due to the foresight of our developers ensuring iplict is built from inception with multi-jurisdictional VAT across one or multiple legal entities, and all seamlessly introduced into your end user transaction entry.
The VAT complexities of post-Brexit international trading no longer mean added challenges and complexities for the FD who has more than enough to do.
The latest Cloud technologies can deliver the most pressing legislative and trading requirements.
This is just one example where cross-border trading in particular, which is the lifeblood of many organisations throughout Ireland and Northern Ireland is very close to our heart and our software design.
Alan Connor
Managing Director
Iplicit Ireland
- Alan Connor
- June 29, 2021
- 12:06 pm
How it all works
iplicit’s architecture is quite special; it’s true cloud and only in the browser, but it looks and feels like a desktop application. No layer upon layer of tabs opening and probably the most intuitive navigation that you will find in the marketplace today. Take a look for yourself.