New VAT submission rules

[Still Farming]

Another fan of Xero here.

Will still keep the accountant but bill will be reduced due to lower workload.

Yer heard that one before .

 

[stroller]

My computer program cost under £100 several years ago, they provide free up dates, with these new regs it looks like it's going to cost twice that per year,for me to do more work for the bloody government.

 

[haggard143]

excuse me for asking but what sort of price is xero and is it one off payment or ongoing sub with updates incuded or is anyone using anything better/cheaper

 

[Steevo]

excuse me for asking but what sort of price is xero and is it one off payment or ongoing sub with updates incuded or is anyone using anything better/cheaper

Ongoing sub.

Full version £22 a month or so.

Lite version available through accountant “partners” for £10 a month or so.

 

[farmerdan7618]

excuse me for asking but what sort of price is xero and is it one off payment or ongoing sub with updates incuded or is anyone using anything better/cheaper

Would recommend going through the accountant, 30% discount on full version, £15.60 month.

 

[haggard143]

many thanks @Steevo & @farmerdan7618 is there much difference between lite & full version ( only need to do vat no wages)

 

[Steevo]

many thanks @Steevo & @farmerdan7618 is there much difference between lite & full version ( only need to do vat no wages)

By Lite I was referring to Xero Cashbook which is what I use, just for VAT etc.

https://www.xero.com/uk/features-and-tools/practice-tools/ledger-cashbook/

 

[Steevo]

This is the US comparison, but shows the basic differences.

https://www.xero.com/content/dam/xero/pdf/US-PartnerToolkit/XeroProductPlanComparison.pdf

 

[farmerdan7618]

many thanks @Steevo & @farmerdan7618 is there much difference between lite & full version ( only need to do vat no wages)

Biggest difference looks to be the invoicing side of things, depends on what you do as to how much you need that.
Helpful to all be in one place, and allows keeping track of debtors better, but if you are always paid by self billing invoice you may not need that.

 

[Hampton]

Better than an accountant ?

Yes, far cheaper

 

[haggard143]

Biggest difference looks to be the invoicing side of things, depends on what you do as to how much you need that.
Helpful to all be in one place, and allows keeping track of debtors better, but if you are always paid by self billing invoice you may not need that.

just fat cattle paid direct only need vat will talk to accountant in autumn many thanks

 

[neilo]

Our accountant is pushing Sage. Has anyone any experience with it?

Mother used to use Sage, as that's what the accountant recommended/had the biggest kick back from. IMO its a program that's written by accountants for accountants, and in their own language of accountantspeak. I thought it was the most counterintuitive bit of software that I've ever had the misfortune of looking at. Mum used it for years, for what was a relatively simple set of business accounts, and still had to use the (expensive) support on a regular basis. My advice would be to avoid it like the plague.

Xero and QuickBooks are almost identical, and very simple for a 'normal' person to use and understand, as well as being far cheaper than Sage. They will both do everything that Sage does, just more easily and logically. I've been on QB since starting up here in 2012, and I have only ever used support once (when MS decided to update Windows 10, corrupting a QB file). I do VAT monthly, taking me about 5 minutes and a couple of clicks. Most of that 5 minutes is digging out the piece of paper that I have my user ID scribbled on.

 

[Steevo]

Most of that 5 minutes is digging out the piece of paper that I have my user ID scribbled on.

Think you need a password manager program.

 

[neilo]

Think you need a password manager program.

Nothing that stores passwords on a computer can ever be as secure as a piece of paper you can’t find.
If somebody tried to get it out of me at gunpoint, they’d likely be unsuccessful.

I’m not sure why they’d be so desperate to file my VAT for me though......

 

[Steevo]

Nothing that stores passwords on a computer can ever be as secure as a piece of paper you can’t find.
If somebody tried to get it out of me at gunpoint, they’d likely be unsuccessful.

I’m not sure why they’d be so desperate to file my VAT for me though......

Would save you an hour a year though.....!

 

[wr.]

Thanks for that @neilo

 

[matthew]

Just battling my way through this ^^.

Our accountant had a seminar where QB, Xero and Sage were explained. Except that he must be getting a bigger kickback from QB than the other two. He dismissed Sage out of hand, said Xero was about the same but didn't link to Lloyds bank. (need a third party router to balance that bank) so favoured QB.
The young person doing the explaining was / is not very good at it.
The monthly fee was a DD to the Accountant of an unspecified amount. So I bought QB on a trial 6 months.
That's £7.50 / month plus VAT then £15 / month. They provide backup and are helpful.

I had a play with it through 'expenses' portal', entering April's VAT but left the Bank Feed, I added 'Accountant' to the people allowed into your programme, and then went for an hour's tutorial. That was not very successful. More questions than answers, but the real niggle was that when I went to input something a week or so later, all the figures had changed. Our business's figures. The QB teenage tutor had been in there trying to force a balance between the bank and QB. Moved sales stuff over with no allocation etc. And some inevitable errors.

When I exploded at the Accountant and asked how I could 'delete' him, he said I couldn't. And if you go through an accountancy form, with them labelled 'Master Administrator' then i expect he was correct. But I had bought the programme so i am the MA. And he is deleted until I can (if ever) trust the company again.

As said, from next April, VAT returns have to be submitted on such a digital programme, and from 2020 at the earliest (and possibly not at all) accounts submitted quarterly to HMRC through it too.

Having done double entry book keeping from 1968, I am not stooopid, but all these programmes need setting up correctly, and info given in a way that relates to your business. That hasn't happened with the tutorial I've had.

 

[Boysground]

I use Xero and LLoyds bank. The Yodlee feed for statements is not a problem. It works within Xero, click refresh bank feed and enter a password and it does it. Dont let the accountant use it as an excuse to make you have what they sell.

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Edit, i am like @neilo and have to find the password, that does take time

 

[matthew]

I'm thinking many farmers seem to get on well with Xero. I may try it after QB trial has ended .

What I'm finding is that the QB labels are in accountant speke and not what I understand. I did say the tutorials were rubbish didn't I?

 

[Boysground]

I spent a morning with my accountants Xero guru, that is the only training I have had. I occasionally call the guru and use the really good online help and forum. I started using my accountants basic heading code syste and have modified it to suit my business.

I find Xero easy to find my way around and I dont speak "accountant" very well.

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