Zoho adds VAT filing to Zoho Books and simplifies MTD compliance with its pre-integrated offering to help businesses in the UK prepare for the upcoming government initiative
Utrecht, The Netherlands - October 16, 2018 — Zoho Corporation has today announced that its cloud accounting application, Zoho Books, can be used to successfully submit VAT returns under the UK government’s Making Tax Digital (MTD) programme. Businesses will be required to use the MTD system from April 2019 if their turnover is above the VAT threshold; the government has suggested that the scope will widen from 2020 as part of its objective to encourage digital record keeping.
In addition to managing their accounting, Zoho Books users are able to effortlessly submit their periodic VAT returns to HMRC. As Martin Hargreaves, Director of Ultra Accountancy Limited, explains: "Being a technology-driven Zoho Books partner, we volunteered for the pilot to stay ahead of the curve. It's a landmark moment and we are proud to be the first to submit VAT returns with Zoho Books."
Sridhar Iyengar, Zoho Corporation's Head of European Operations, comments: "The UK is one of the prime markets for us; with MTD coming into effect, our customers will find it easy to file their VAT returns directly from Zoho Books."
MTD requires data to flow digitally between multiple applications and mandates them to work in conjunction with a compatible accounting package. With Zoho, whether a transaction is created in the CRM app, expense app, or any of the other 40+ apps, the data seamlessly flows into Zoho Books. Iyengar added: "Zoho's MTD solution is not siloed. Zoho wraps MTD compliance around organisations' day-to-day operations, giving them confidence that they are fully compliant."
About Zoho Books
Zoho Books is an MTD compliant accounting software that helps businesses stay on top of their finances with billing and invoicing, reporting, and direct VAT filing to HMRC. Available in mobile and web versions, it takes the hassles out of accounting with bank feeds, receipt scanning and workflow automation. It works with other Zoho apps — CRM, Reports, Mail, Projects, Inventory and Expense — to unify an organisation’s front office and back office operations.
Availability & pricing
Zoho Books offers three subscription plans: the Basic plan, the Standard plan, and the Professional plan. Each meets different business needs. Zoho Books comes with receipt scanning and additional user add-ons. Businesses can sign up for a 14-day free trial of Zoho Books at https://www.zoho.com/books/.
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Zoho is the operating system for business, a single online platform capable of running an entire business. With apps in nearly every major business category, including sales, marketing, customer support, accounting and back office operations, and an array of productivity and collaboration tools, Zoho is one of the world's most prolific software companies. In 2017, Zoho introduced the revolutionary Zoho One, an integrated suite of applications for the entire business.
Zoho respects user privacy and does not have an ad-revenue model in any part of its business, including its free products. More than 35 million users around the world, across hundreds of thousands of companies, rely on Zoho every day to run their businesses, including Zoho itself. Zoho Corp is privately held and profitable with more than 6,000 employees. It is headquartered in Pleasanton, California, with international headquarters in Chennai, India. Additional offices are in Austin, Utrecht, Singapore, Yokohama, and Beijing. For more information, please visit www.zoho.eu
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