Following the introduction of HMRC’s Making Tax Digital (MTD) legislation on 1st April 2019, Cooper Software has seen a number of our IFS customers successfully submit their firstVAT return digitally using our MTD solution.
To date, we have carried out several installations of our cloud-based MTD solution to enable our IFS customers to send their VAT return digitally to HMRC. The installations have covered customers who are using IFS Applications 7, through to IFS Applications 10.
Leading surgical scalpel blade manufacturer, Swann-Morton, was one of the first customers to submit their quarterly return for two of their companies. Daryl Slinn, Accountant at Swann-Morton commented, “After a rigorous selection process where we considered a number of MTD options for IFS, we opted for Cooper Software’s solution. The solution was attractive due to it being hosted in the cloud. This meant it not only met our short term compliance requirements, it ensured that we would be compliant for the future changes in 2020 and beyond. The installation process was fully supported by the Cooper Software consulting team and submitting our return was straightforward.”
Public water supply company, Portsmouth Water, are another customer who have installed the solution, achieving this with the full support of the Cooper Software consulting team. Richard Barker, Project Manager at Portsmouth Water commented on how smooth the process was:“The pre-implementation data provided by Cooper Software was comprehensive and clear to understand. Prior to this, we also had on-site support where one of their consultants spent time with our team to fully understand ourfinance processes and how we currently gatherthe necessary data for our return. We felt completely involved in the entre process and our IT Department were comfortable with the off-site implementation documentation supplied for our checks and preparations prior to installation. On the day of the implementation; we completed the exercise successfully in a test environment, supported by the Cooper Software team via Skype. This went as planned and we intend to complete the same exercise internally for ‘Live’ as Finance resource are available.”
Installing MTD marks the first time Portsmouth Water have worked with an IFS Partner. Richard continued “We have been impressed with the service Cooper Software have provided and the level of expertise they have shown around IFS finance in particular. As a result, we have had several discussions with them around our financial operations and are looking at other ways they can potentially help our business, independent of MTD.”
Looking ahead, Cooper Software is continuing to work with our customers to install the solution, particularly helping those who are exempt from the MTD changes until 1st October, to fully testthe solution in advance of their first submission.The exemption refers to those companies with more complex requirements which includes, amongst others; trusts, VAT divisions, VAT groups and public sector entities that are required to provide additional information on their VAT return (such as government departments and NHS Trusts).
Stephen Aldington, Finance Solution Architect at Cooper Software said, “It is pleasing to see that all the development work that has gone in to the solution to make it as comprehensive as possible has paid off and that our customers have been able to make their first MTD submissions easily and efficiently. We look forward to helping many more customers get ready to process their submissions over the coming weeks and months.”