Making Tax Digital

I have swerved going down the digital route until now, just use a spreadsheet and number the invoices to tie in but I need to bite the bullet now. So can anyone point me in the direction of/give me an idiot's guide? Software recommendations? Will my January VAT return need to be digital or can I buy myself some more time to get organised?

Any help appreciated!
 

exmoor dave

Member
Location
exmoor, uk
I have swerved going down the digital route until now, just use a spreadsheet and number the invoices to tie in but I need to bite the bullet now. So can anyone point me in the direction of/give me an idiot's guide? Software recommendations? Will my January VAT return need to be digital or can I buy myself some more time to get organised?

Any help appreciated!


If you're happy with excel, you could just use a cheap bridging software
 

steveR

Member
Mixed Farmer
I quite like doing my VAT return and seeing where all the money has come and gone from over the quarter. But yes, that idea has some merit.
I used to do the same, until I found that the Clerk (previous accountant) was double checking all the data anyway and the additional cost was negligible and made end of year returns quicker and easier. I have also found that they can give me a very good (and accurate) state of play which can aid spending...or not.
 

Steevo

Member
Location
Gloucestershire
I used to do the same, until I found that the Clerk (previous accountant) was double checking all the data anyway and the additional cost was negligible and made end of year returns quicker and easier. I have also found that they can give me a very good (and accurate) state of play which can aid spending...or not.

How did you used to do it previously?

With Xero we just update it every few days with about 5-10 transactions and then it’s always a pretty close picture of what’s happening.

Much nicer than when we used to “do the VAT” once a quarter and spend a helen afternoon doing it but being less informed in general because the figures were fairly worthless other than for VAT purposes.
 

steveR

Member
Mixed Farmer
How did you used to do it previously?

With Xero we just update it every few days with about 5-10 transactions and then it’s always a pretty close picture of what’s happening.

Much nicer than when we used to “do the VAT” once a quarter and spend a helen afternoon doing it but being less informed in general because the figures were fairly worthless other than for VAT purposes.
Cannot recall for sure now, but is was a while back... Money Manager I think...

Very few transactions really now though...
 

Exfarmer

Member
Location
Bury St Edmunds
@Woolless i am just making the change too, I guess your business is not that large as you would have had to change earlier.
If you have not been required yet I believe you do not need to submit your first digital VAT return till june. I have the same issue and have gone for xero.
It is ridiculously easy to change, I have always done my books on Excel and could have used bridging software but would definitely recoment the change.
Xero do offer a 30 day trial and I used this to see how it went over Christmas . I have now joined my accountants group about £20 a month
Dext is good but I felt unnecessary for me with only possibly 10 invoices a month.
Also I worry that doing these things automatically you lose the constant touch and the danger of allowing wrong invoices through.
Good luck
 

Is Red tractor detrimental to your mental health?

  • Yes, Red tractor increase my stress and anxiety

    Votes: 284 98.3%
  • No, Red tractor gives me peace of mind that the product I produce is safe to enter the food chain

    Votes: 5 1.7%

HSENI names new farm safety champions

  • 117
  • 0
Written by William Kellett from Agriland

Farm-safety-640x360.png
The Health and Safety Executive for Northern Ireland (HSENI) alongside the Farm Safety Partnership (FSP), has named new farm safety champions and commended the outstanding work on farm safety that has been carried out in the farming community in the last 20 years.

Two of these champions are Malcom Downey, retired principal inspector for the Agri/Food team in HSENI and Harry Sinclair, current chair of the Farm Safety Partnership and former president of the Ulster Farmers’ Union (UFU).

Improving farm safety is the key aim of HSENI’s and the FSP’s work and...
Top