Make Tax Digital Software to go for

[neilo]

Just what exactly do the gov want? is it just the figures that are in the end boxes on my paper one or are they wanting a copy of all our invoices?

All that gets submitted to them is exactly the same figures, in exactly the same boxes, as on your paper or excel sheet, but it now has to be done electronically and without a way to change it manually between the calculations and the submission.

It’s all quite ridiculous and unnecessary really, and at the same time as our Dear Leader is promising a ‘bonfire of red tape’.

 

[Laggard]

I will be using an excel spreadsheet and sending it to my accountant for him to submit to HMRC. £40 per return for our little bit is a small price to pay for not having to mess about with something I have no interest in.

That’s not bad if you do VAT quarterly. Costs us £30 + vat a quarter for SAGE.

 

[Lili]

Gives a list of all approved software - some free, some charge.

Find software that's compatible with Making Tax Digital for VAT

Check which software packages you can use to keep VAT records and submit your VAT Returns.

www.gov.uk

 

[DrWazzock]

Are you suggesting it’s the software’s fault if you forget to put a minus figure on the Contra entry?

I can’t say that I’ve ever felt Contra entries particularly troublesome (Quickbooks user), not that I do that many.

Yes I am actually. It’s counter intuitive and VAT on sales, not purchases comes up by default and has to changed manually every time. If you forget there is no warning. You just end up wrongly paying VAT in to HMRC that you should be reclaiming on the contra part of a self billing invoice raised by a customer.

 

[DrWazzock]

Really?! Folk being charged £20 by accountants to submit the figures to HMRC. What a rip off.

 

[reb1952]

Is it on the HMRC approved mtd software lists though?

Yes it is

 

[robs1]

Its just the start of foing all tax returns this way and in real time every quarter not yearly once you submit figures they will be able to examine them with a programme that will pick up anomalies automatically and catch people fiddling tax

 

[kit1023]

if you use excel vital tax bridging software costs £12 /yr and is easy to use

 

[Blue.]

I used quickbooks for years but wasn’t happy to pay on a subscription basis ,I went and bought money soft in the end,done x2 years with it now,

 

[Exfarmer]

Do not forget that next year we have to do all books on line for VAT , PAYE , Corporation tax etc.

 

[Vorest Tat]

Anyone on here any experience of using bordersoftware for accounts/vat.mtd.etc? Considering it and wanted any feed back. All paper here presently.

Tia.

 

[neilo]

Do not forget that next year we have to do all books on line for VAT , PAYE , Corporation tax etc.

PAYE already has to be online, for which you can use HMRC’s very clunky free software if you wish.: banghead:

 

[robs1]

Do not forget that next year we have to do all books on line for VAT , PAYE , Corporation tax etc.

I thought that the rest had been postponed or is that just self assessment

 

[Geoffreywrc]

Try Money Manager by moneysoft.co.uk. Been using it for well over 20 years now.
Business edition is a one off £120.

How do you find it.
Is it easy used for doing vat returns

 

[farmerdan7618]

I thought that the rest had been postponed or is that just self assessment

Timeline for making tax digital to clear any confusion up:
PAYE - already online
VAT if over £85k turnover - already online
VAT, all VAT registered business - April 2022
Income tax for individuals with over £10k turnover (trading or rental) - April 2024
Corporation tax - to be decided, but not before April 2026

As for software, personal preference is Xero, both as a user and an accountant, can get so much information out of it that it saves it's subscription cost easily.

 

[ploughman1963]

Our business is on QB and daughter sorts it all out beautifully - but Mum and Dads farm business (now a very small affair) have always done their VAT in an A4 book. It has now fallen to me to sort out them submitting digitally. For the 5 or 6 entries per month I cannot justify a QB subscription and so bridging software sounds ideal - but what excel system is everyone using to link to the bridging software? Is there an excel template available for the job?

 

[robs1]

Our business is on QB and daughter sorts it all out beautifully - but Mum and Dads farm business (now a very small affair) have always done their VAT in an A4 book. It has now fallen to me to sort out them submitting digitally. For the 5 or 6 entries per month I cannot justify a QB subscription and so bridging software sounds ideal - but what excel system is everyone using to link to the bridging software? Is there an excel template available for the job?

I just created a cash analysis in a spreadsheet and link it to the bridging software, I use cirrostratus exdra, there are tutorials on line how to use it. In your parents situation it could be very simple set up

 

[ploughman1963]

I could probably create an excel spreadsheet for my own use but I would struggle to understand how to link any software to my spreadsheet

 

[Treg]

I could probably create an excel spreadsheet for my own use but I would struggle to understand how to link any software to my spreadsheet

Check with your bank first as several are offering free software.

 

[robs1]

I could probably create an excel spreadsheet for my own use but I would struggle to understand how to link any software to my spreadsheet

If you use the one I do there are videos on their site how to do it, once you've looked at them a few times it's not too hard, I'm too tight to pay for it