The Managed Tax System product was developed to allow companies to trade immediately, who have not gone through the formal process of registering for VAT or getting a Tax ID and opening a local bank account. It can be used as a temporary measure until you get your own registration through or as permanent solution for your global trading needs.
What does it do?
The Managed Tax System (MTS) allows you to invoice your customers and charge them VAT immediately.
MTS allows you to clear goods from customs.
MTS allows your customers to pay you in local currency into an existing local bank account.
We collect payments for you worldwide and transfer them to any bank account in any currency worldwide.
How does it work?
We invoice your customer for your goods and services, and we also charge them VAT if applicable.
We collect the payment from your customer. Your customer can pay via credit card or bank transfer.
Once we have collected the payment we pass the payment on to you.
The invoice contains your logo but our Tax ID and Bank Data. As far as your customer is concerned you have outsourced your accounting to us “Accounts Centre”, because of the name of our company most of your customers will assume that Accounts Centre is either department in your company or an outsourced accounting service.
How much does it cost?
It costs £100 to setup and then £25 per month. You have to pay 3 months in advance.
There is also 2% transaction fee per invoice.
If your customer pays via credit card then an additional 2.5% will be charged.
How long does it take to setup?
Setup can take between 1 to 3 working days.
What are the requirements?
We need to undertake normal due diligence on yourself. We have to identify you as person. This can be accomplished by obtaining identity documents such as passport and proof of address.