Is Your Dealership Ready for Making Tax Digital for VAT Changes?
With increased digitisation changing how customers buy products forever, dealerships are having to adapt the ways in which they operate. In fact, being a dealer is no longer a simple affair at all, especially when faced with an array of different systems, spreadsheets and even the odd post it note, just to get through the daily admin.
Stock, Enquiries, Sales, Website, CRM, Marketing, Invoicing, Accounting, Profit and VAT Reports, FCA Gabriel; a dealer’s to do list is endless. But the one thing that stands out the most when trying to tackle these tasks is that hardly any of these systems and spreadsheets talk to each other, which means multiple log-ins, duplicated data entry and a lot of wasted time which could be better spent on other areas of the business, with the family, or even out on the golf course!
Juggling so many systems just to keep everything in sync is not only inefficient but it also sounds frustrating and painful! Which is why dealership performance partners, Click Dealer, created an end-to-end system, which encompasses all this functionality and more, to help busy dealers save time and increase profitability significantly.
Click Dealer can provide integrated modules which can be taken out individually or collectively, enabling a far more efficient way to process business. The digital dealership experts offer a combined DMS and website platform, which in turn links into an enhanced lead management suite. All this is seamlessly interconnected to industry leading CRM and marketing modules as part of a frictionless operation, refined over almost 20 years of technical experience in the automotive sector.
With a specialist, in-house Automotive Search Engine Marketing team on hand to help drive more traffic to dealer’s websites, all of which is tracked. As well as the award-winning online retailing platform ClickEngage, which can be easily embedded into any website, enabling dealers to sell their vehicles directly online, Click Dealer offers everything the modern-day dealership requires in one solution, designed to cater for their every need.
Is Your Dealership Ready to Comply With HMRC’s Making Tax Digital For VAT Regulations?
From April 2019 HMRC’s new Making Tax Digital for VAT rules will apply to dealerships across the UK and all businesses must be prepared to submit their VAT returns via software which can communicate digitally with HMRC’s Application Programming Interface (API) platform.
The Making Tax Digital for VAT regulations require VAT registered dealerships with taxable turnover which is above the threshold of £85,000, to maintain their records in a digital format and file their VAT Returns by using appropriate software.
In recent times, it has become significantly more common for dealership’s records and accounts to be stored digitally, utilising software programmes on computers, tablets, smartphone applications, or even maintaining them through these devices and storing them by using a cloud-based application.
The main difference Making Tax Digital For VAT will bring for UK dealerships is that the software which they use must be capable of keeping and maintaining the records specified in the regulations. This software must also facilitate preparation of their VAT Returns using the information maintained in digital records and communicate with HMRC digitally via its Application Programming Interface (API) platform.
This is where Click Dealer’s award-winning ClickDMS product can provide the answer to dealer’s prayers by taking care of the whole process for them in a frictionless, integrated process, with minimal fuss.
ClickDMS is setup and ready to assist dealers with meeting the Making Tax Digital for VAT regulations from April 1st, 2019, the independent dealership experts are already working towards becoming a HMRC approved supplier for VAT submission software and can help dealers to comply with the new VAT notice straightaway.
If dealer’s digital records are up to date, ClickDMS will be able to collate and prepare their returns. It will then display the return and ask dealers to declare that it is correct and confirm that they want to submit it to HMRC via one simple button. Once dealerships have submitted their return they will receive confirmation through the industry leading ClickDMS software that it has been received.
From Digital Invoicing to Accounts Integration
Inside ClickDMS, the digital invoice system is linked to dealer’s marketing databases and everything is GDPR compliant, so they’re fully setup to utilise customer retention campaigns to great effect. The DMS also captures all the data, so that it can automatically generate reports from acquiring stock, right through to selling it, and for every KPI in between, giving businesses a 360-degree insight into their overall performance.
Click Dealer doesn’t believe in re-inventing the wheel, so where possible its systems are integrated with external platforms, so that data can be shared to save time and combat double entering. A fine example of this is the ClickDMS accounts function which handily exports to both Sage and Xero.
ClickDMS is already setup to be fully compliant with next April’s digital VAT changes implemented by HMRC and can even send AutoTrader portal enquiries straight to dealer’s inboxes, to make sure that they remain compliant and prevent any lucrative leads from slipping through the net.
If you’re currently using paper based methods or excel spreadsheets to manage your VAT returns, give Click Dealer a call today, to find out about how ClickDMS can solve all of your problems at the click of a button! You can catch us on 01782 454 354 or firstname.lastname@example.org.