VAT recording get-out clauses

[Cowabunga]

We all know that from April next year we have to record our VAT accounts electronically as well as submit regular reports, monthly or quarterly, to HMRC using packages like Xero or a spreadsheet with a 'bridging' program.

Except we don't.

There are three get-out-of-jail-free options.

1. No internet access.

2. Religious grounds.

3. Old age.

I fancy using the 'old age' one, at least until the dust settles. The 'religious grounds' sounds like more fun though.

 

[roscoe erf]

We all know that from April next year we have to record our VAT accounts electronically as well as submit regular reports, monthly or quarterly, to HMRC using packages like Xero or a spreadsheet with a 'bridging' program.

Except we don't.

There are three get-out-of-jail-free options.

1. No internet access.

2. Religious grounds.

3. Old age.

I fancy using the 'old age' one, at least until the dust settles. The 'religious grounds' sounds like more fun though.

is it not on a turnover limit

 

[Exfarmer]

We all know that from April next year we have to record our VAT accounts electronically as well as submit regular reports, monthly or quarterly, to HMRC using packages like Xero or a spreadsheet with a 'bridging' program.

Except we don't.

There are three get-out-of-jail-free options.

1. No internet access.

2. Religious grounds.

3. Old age.

I fancy using the 'old age' one, at least until the dust settles. The 'religious grounds' sounds like more fun though.

you going for the vegan option

 

[Cowabunga]

is it not on a turnover limit

This isn't about registering for VAT or not. It's about how VAT is recorded and presented after April for VAT registered businesses.

 

[Cowabunga]

you going for the vegan option

I'll wean myself onto beef at my own pace thanks. I'm just trying to work out just what the 'religious' excuse would have to be, if asked to justify it.

 

[roscoe erf]

This isn't about registering for VAT or not. It's about how VAT is recorded and presented after April for VAT registered businesses.

I know that is there not a turnover limit on how you report

 

[roscoe erf]

I know that is there not a turnover limit on how you report

the value of the person’s taxable supplies, in the period of one year ending with the month before the current month, was less than the VAT threshold,

 

[nick...]

I understood that if you were under the threshold £85/86k you were exempt.i called vat people and it’s applicable to everyone.im sure it will be fine when we start .my vat quarter ends in March so I’ll have to subscribe to some expensive programme after that.
Nick...

 

[Lili]

Apparently valid reasons are

"Religious beliefs incompatible with electronic communications"
or
"Not reasonably practical due to age, disability, remoteness of location or other reason"

HMRC will be receiving some interesting applications for exemption

 

[Still Farming]

And under Thresholds.

 

[JP1]

Just filed my VAT quarter return

The advisory note gave advance warning of the new system requirements from April 2019 but it did state it only affected > £85k turnover businesses

 

[Fergieman]

Why wouldn't you want to make life easier for yourselves?

 

[Still Farming]

 

[JP1]

Why wouldn't you want to make life easier for yourselves?

Scale I suppose

Friend of mine looked in to it and they will be leasing the system at about £20 / month. My quarterly VAT return took me two hours to number invoice receipts, post in a double entry book system and file (electronically) . The system works ok for me as it is

 

[Still Farming]

Why wouldn't you want to make life easier for yourselves?

Lie on beach, that be easier?

 

[Cowabunga]

Why wouldn't you want to make life easier for yourselves?

What I do not want is to subscribe to a system that I know nothing about, where there might be better and cheaper systems available or about to be launched.
I can't really imagine a system that is simpler than having my wife do the VAT in a ledger every month to be honest. It's completely painless to me and she enjoys doing it.

 

[scholland]

Scale I suppose

Friend of mine looked in to it and they will be leasing the system at about £20 / month. My quarterly VAT return took me two hours to number invoice receipts, post in a double entry book system and file (electronically) . The system works ok for me as it is

You can get online accounts for £10 per month and it will make your accountants life easier so their bill will decrease.
My quarter vat return takes about 45 minutes.

 

[Still Farming]

Bound to be "Free"apps around or in pipeline soon.
If Government making people do it then they should supply the required software simple.

 

[Still Farming]

You can get online accounts for £10 per month and it will make your accountants life easier so their bill will decrease.
My quarter vat return takes about 45 minutes.

Decrease???
Easier for money for old rope more like it?

 

[DrWazzock]

My accountant advised me that if joined the seventh day Adventist church then I wouldn't need to go digital.

Everybody says IT is easy when they know how but it isn't when you don't. There is a possibility to screw it up majorly in an instant if you don't really understand what you doing.

I am also concerned that the T and Cs my accountant sent me say that if change provider they won't necessarily allow me access to historical data I have stored on their system, nor can they guarantee to restore my data in the event it is lost from the cloud, though they will do what is reasonably possible.

Joining the seventh day Adventists sounds better as each day goes by.