Technology has historically played a relatively small part in tax compliance. Traditionally, it has been a labour-intensive process, but this is set to change rapidly. Increasingly businesses are looking at how they can automate whole or parts of processes. In parallel, HMRC (together with other tax authorities) is pivoting towards direct data extraction from businesses’ core financial systems in real-time, with increasingly less human intervention. This has started to become a reality with Making Tax Digital (MTD) for VAT and MTD for corporation tax expected in the future.
KPMG’s Tax Connect portal is a web application which offers a secure, centralised area for corporate tax compliance documentation. It’s a one-stop shop that brings together our information, tools and services. You can track progress through each compliance cycle in real time. Further, you can share and view all relevant data for each accounting period, and review and approve tax provisions or returns via computer or mobile phone, using your unique login.