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Introducing AlphaVat

MTD for VAT presents not just an opportunity to digitalise but to streamline the tax process to create efficiency and reduce risk. Gathering and calculating returns is highly labour intensive. On average, up to 75% of the compliance workload is dedicated to data input, with the talents of highly skilled tax professionals wasted on the configuration and population of spreadsheets and manual calculations. In addition to this, nearly 90% of spreadsheets are thought to contain errors which can lead to miscalculations, unwanted investigations and the prospect of financial or reputational loss.  Automation software can resolve these issues by minimising the amount of time dedicated to compliance/maximising the time available for demanding strategic tax tasks.

Tax Systems is a leading specialist in corporation tax technology & services in the UK & Ireland. As of 24th May 2018, MXC Capital Ltd (LON:MXCP) holds a 4% share.

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Disclaimer: Statements in this article should not be considered investment advice, which is best sought directly from a qualified professional.