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Flyingboat Tax Data Exchange 2016 First Looks

Jan 6, 2016

In this brief article we provide you with a little look inside Flyingboat Tax Data Exchange 2016.

The Home screen (above) is a dashboard with a focus on a given Tax Reporting regieme (e.g. US FATCA), a reporting to authority and a reporting period. One simple view summarising reporting for that agreement and jurisdiction.

Our Agreement & Jurisdiction viewer allows the user or a manager to have a complete overview of status of all agreements for all jurisdictions configured for each reporting period. Drill down navigation allows a particular combination to be brought into the current view.

More colour and icons have been introduced to displays such as this listing of organisations to aid easy identification of data.

Likewise records of people have been enhance with colour and flag icons.

In readiness for CRS and strict HMRC UK-CDOT support address formats have been updated to support the required address field elements whilst still supporting the looser structure permissible under US FATCA.

The Submissions by State view is largely unchanged but when drilling into a particular submission the available views have been enhanced.

A report summary tab provides a human readable form of the report to be submitted.

The raw XML data and a Word based human readable view are still available.

The report Actions tab provides the interface for taking a report through its lifecycle of review, approval, submission and if necessary ammendment.

Feedback from the 2015 version of the software was incorporated into the update for 2016 and more features and functionality will be added during the course of the year including final preparations for support of CRS in 2017.

For more information on Flyingboat Tax Data Exchange contact Alan Rowe via our contact page here.