Organisations today are looking for more efficient and cost effective ways to manage tax processes, whilst ensuring that corporate governance and Senior Accounting Officer (SAO) requirements can be met. HMRC's risk based approach means it is increasingly important that a clear, consistent approach can be demonstrated. Increasing tax data and filing requirements mean it is essential to ensure your system processes and controls are working together efficiently. Whether you are performing processes in-house, via a shared service centre or via an outsourcing arrangement, a clear process and access to a full audit trail is essential.
How we can help
Our range of services cover the following:
What's on your mind?
- Lack of confidence in tax processes and numbers generated.
- Unsure of ability to meet SAO and wider corporate governance requirements.
- Need to reduce or manage tax risk profile effectively.
- Need to make efficient or cost effective use of scarce tax resource.
- Require visibility over tax critical data and control over consistent processes.
Bringing you peace of mind
- KPMG's Tax Technology Group includes professionals dedicated to automating tax processes to free-up tax department resources for value added activities.
- We have developed a number of tools with our blend of business, tax, technology and process re-engineering skills to provide stand-alone or integrated approaches for critical tax data.
- We appreciate that each client's process is unique in its requirements and underlying source data and will work closely to find the right fit or combination for your organisation.
- We have worked with a large number of clients in a variety of industries and have credentials across a large number of tax and finance processes.
What's in it for you?
Value added through:
- Cost reduction - Improved processes and controls and efficient working practices.
- Cash flow - Improved visibility, automated reporting and proactive management.
- Risk management - Reduced tax risk profile and transparent audit trail.
- Better reporting - Appropriate systems and process documentation with flexible reporting functionality.
- Credentials - We have worked with a large number of FTSE 100 and FTSE 350 clients on a wide range of projects.
- Experience - Our team of tax technology professionals have extensive experience across a broad range of tax and process issues. We are a team that includes both tax and IT specialists professionally, working closely together in a single team.
Leading Global Telecom - FTSE 25
- Automation of Tax Compliance processes.
- Automated linkage of ERP systems to Tax return software.
- Development and deployment of Tax data warehouse containing transactional detail for tax sensitive codes. This included advanced functionality to automate the data analysis tasks.
Tax SAP Integration project
- Assisting with ERP selection process from a tax perspective.
- Assisting with Software. Implement vendor selection process from a tax perspective.
- Defining tax/SAP requirements.
- Converting to SAP technical requirements.
Leading Global Bank - FTSE 25
- Design, build and roll-out of a leading edge Global Tax reporting solution.
- The solution was a combination of SAP, BW and bespoke bolt-ons.
- The solution created a single solution and process for 1000 legal entities spread over 65 countries.
- The solution was designed to ensure that all tax calculations and postings could be run globally over two working days.
- We designed work flow and systems control functionality in the tool to achieve SOX 404 compliance.
- We created and rolled out a new standardised SOX 404 compliant process to the global tax department and local country finance departments.