Company Overview:

Vat Direct offer Making Tax Digital interfaces for taxpayers and accountants (VAT and ITSA). Information can be downloaded from bank statements using Open Banking. Additionally, businesses or people with multiple bank accounts can see their account balances all on one page, manage cashflow and check live transactions from there. Part of the HMRC.

Open Banking Use Case:

Cirrostratus offer free accounts for those VAT registered businesses or people who submit Self Assessment returns who are joining Making Tax Digital.

Making Tax Digital is the new way of submitting tax information to HMRC. From April 2019 the majority of VAT registered businesses have been required to start using Making Tax Digital compatible software to submit the VAT return. There are some exceptions. The main one is being below the registration threshold. For more information read the government's web page about this. Additionally Cirrostratus can provide software for Self Assessment returns. These are not currently mandatory.

Cirrostratus have developed software, using their Exedra Universal Communications platform, which allows people to submit VAT returns and obtain VAT information using their service. The same server also handles Self Assessment and allows accountants, book keepers and other agents to use the Agents API and handle AML processes

If you have any questions email john@hemming.email