MTD Success!!!

[Goweresque]

I have just successfully submitted my first MTD VAT return, first attempt, I'm amazed it went so well

And even better, I haven't had to pay a penny. The guy running the spreadsheet bridging service I am using isn't charging anyone for 2019, and plans to charge £6+vat for each VAT number for an entire year, which seems ludicrously cheap to me, but who am I to complain?

Kudos to John Hemming at Cirrostratus Exedra for creating such a cheap and efficient system:

https://www.vat.direct/

 

[robs1]

I have just successfully submitted my first MTD VAT return, first attempt, I'm amazed it went so well

And even better, I haven't had to pay a penny. The guy running the spreadsheet bridging service I am using isn't charging anyone for 2019, and plans to charge £6+vat for each VAT number for an entire year, which seems ludicrously cheap to me, but who am I to complain?

Kudos to John Hemming at Cirrostratus Exedra for creating such a cheap and efficient system:

https://www.vat.direct/

Thanks for posting that I have been looking at which one I'm going to be using, will have a look at that one

 

[Michael S]

I have used the vital tax bridging software, seems pretty straightforward.

 

[shakerator]

I have just successfully submitted my first MTD VAT return, first attempt, I'm amazed it went so well

And even better, I haven't had to pay a penny. The guy running the spreadsheet bridging service I am using isn't charging anyone for 2019, and plans to charge £6+vat for each VAT number for an entire year, which seems ludicrously cheap to me, but who am I to complain?

Kudos to John Hemming at Cirrostratus Exedra for creating such a cheap and efficient system:

https://www.vat.direct/

is this only a temp measure though. my accountant says we will need to be all cloud eventually?
I have excel bridging software for now...

 

[robs1]

is this only a temp measure though. my accountant says we will need to be all cloud eventually?
I have excel bridging software for now...

That's the unknown question, income tax is meant to be going digital and real time, but until the rules have been decided I'm going to do as little and as cheaply as I can

 

[TheTallGuy]

is this only a temp measure though. my accountant says we will need to be all cloud eventually?
I have excel bridging software for now...

Strictly speaking there's nothing in the law or rules (AFAIK) mandating that it will have to be cloud based only that the data is digitally stored & not manually manipulated. The cloud thing is due to modern software packages largely being cloud based so that the software firms can more easily charge subscription rates rather than a one time fee. I could probably sit down & write an MTD compliant package with local storage, but I doubt I could earn enough to make it worth while & then having to provide the technical support that goes with it would drive me crazy!

There's also some confusion regarding the future of "bridging software" - as long as the data is stored electronically & the calculations & translations are handled electronically by the bridging software or API enabled spreadsheet (i.e. not typed or copy & pasted) then the "links" are considered to be digital & therefore MTD compliant within the legal definitions given in the relevant act & HMRC guidance. I believe that the confusion arose due to the "soft landing" that allows limited manual manipulation for the first year of operation to allow time for the "digital links" to be created.

 

[TheTallGuy]

That's the unknown question, income tax is meant to be going digital and real time, but until the rules have been decided I'm going to do as little and as cheaply as I can

Income tax has been deferred until VAT has been successfully implemented - so in real terms we are unlikely to be seeing much action on that front for a while. The unofficial mutterings that I have heard from someone involved with the limited trial is that for simple PAYE there's not much issue (or benefit for that matter), but for more complicated situations there's some hurdles that need working out.

 

[Still Farming]

Hats off to this chap.
Money making scam by large firms allegedly all of this.
HMRC demand you mtd they ort to supply the relavant programme, software,apps to do so.
WHY no one has legally challenged this fathoms belief.

 

[Beowulf]

Hats off to this chap.
Money making scam by large firms allegedly all of this.
HMRC demand you mtd they ort to supply the relavant programme, software,apps to do so.
WHY no one has legally challenged this fathoms belief.

WHY have you not legally challenged it, if you feel so strongly about it?

 

[TheTallGuy]

Hats off to this chap.
Money making scam by large firms allegedly all of this.
HMRC demand you mtd they ort to supply the relavant programme, software,apps to do so.
WHY no one has legally challenged this fathoms belief.

Because it is covered under an Act of Parliament & the chances of getting it overturned in court are very slim. As a business it is your legal duty to comply with the requirements at your own expense & that is a long standing principle that has been upheld in countless cases over the years. The only relief could be if it was either determined to be a onerous provision or discriminatory, which I very much doubt could be shown in this case.

 

[Goweresque]

Hats off to this chap.
Money making scam by large firms allegedly all of this.
HMRC demand you mtd they ort to supply the relavant programme, software,apps to do so.
WHY no one has legally challenged this fathoms belief.

The ironic thing is the chap behind the website I linked to was in fact an MP. From 2005 to 2015 he was MP for a constituency in Birmingham. Prior to that he set up and ran a successful software company. I guess this is just a little retirement project for him.

He also offers a simple cashbook accounting cloud based service, for free at the moment, you can use it if you open an account with him.

Cirrostratus have also produced an online cashbook. This is not exciting software like our competitors, but a simple online cashbook that just does the job. It does the tax accounting and links to Making Tax Digital. It has the advantage of not being flexible, so you don't have to work out how to change it or set it up. You just click and it is there. It is also good value for money (at the moment Free). If people want to try this out they are welcome to do so. All you have to do is to open an account and then when you can open a cashbook on the page that deals with a particular business. It on a cash basis or standard vat accounting, but it handles flat rate, retail and margin schemes for VAT as well as traditional VAT and handles EC vat. It also handles Domestic Reverse Charge for the construction industry and tracks CIS payments. It handles self employment and other self assessment records for individuals, but does not at the moment handle FRC Taxonomies.

 

[Still Farming]

Have to look at it.
Often apps and programs designed in "garden sheds" to so to speak of are very good untill the opposition buys them up for undisclosed figures???

 

[steveR]

The ironic thing is the chap behind the website I linked to was in fact an MP. From 2005 to 2015 he was MP for a constituency in Birmingham. Prior to that he set up and ran a successful software company. I guess this is just a little retirement project for him.

.

Good man!

I used to chat online with him back in the 90-00s when he was on a Conferencing service called Cix. Lots of Libs were on then as they used it as their internal conferencing and messaging system. Pretty savvy then as I recall.