Select Legal Systems, authors of LAWFUSION, the leading legal practice management system for law firms, has enhanced its software to cater for EU VAT. This means users of LAWFUSION now have the means to include VAT Figures relating to EU transactions in their ‘Making Tax Digital’ electronic VAT submissions.
Initially when the HMRC ‘Making Tax Digital‘ portal was first launched leading up to the 1-4-19 deadline, it didn’t cater for EU transactions. HMRC made this available later on during the Summer months of this year, and because Select Legal had functionality ready and waiting they were able to provide their law firm users with functionality virtually straight away (Aug 2019) so they could start to record their EU transactions in LAWFUSION whilst accounting for the relevant rates of VAT. Driven by a series of VAT types that can be assigned to VAT codes the LAWFUSION software caters for both transactions relating to sales to / and purchases from European Commission Member States.
Since January 2019 via the ‘Making Tax Digital’ HMRC pilot portal, Team LAWFUSION has been helping law firms to calculate and submit their VAT returns electronically via LAWFUSION direct to the HMRC, well ahead of the 1st of April deadline.
Since August 2019, once the HMRC started accepting VAT figures for EU transactions via their portal, Select Legal has supported a number of firms to submit their first electronic ‘MTD’ VAT returns that have included EU VAT figures.
LAWFUSION accommodates VAT codes and VAT Types assigned to codes covering Input, Output, Outside of VAT Scope, UK and EU – for both goods and services. To make VAT accounting easier the software also presents its users with a preview screen showing how a VAT code/ type change will affect the VAT return, as well as a whole host of other VAT Accounting features.
For further information about Making Tax Digital VAT Submissions via LAWFUSION, EU transactions or any other aspect of LAWFUSION please call 01482 567601 during traditional office hours. Otherwise our online enquiry form is available here 24 hours per day.