Digital vat

[Danny]

I have spoken to my accountant this afternoon.

His words, we do your vat output - input via a spreadsheet. We will still use a spreadsheet and hmrc are providing them software which will convert spreadsheet to the digital version they want unsure if this is going be FOC to people who do their own vat but might be worth a phone call......

Also spoke to a lot of mates with business and they've all ran out and got quickbooks etc as there accountants have told them its what they need. But surely by getting there own accounting software, there either going to make the accountants life easier or realise they could just submit their selfs and do away with the accountant??

 

[fred]

if you use a spreadsheet for vat there is a free addin to upload it to HMRC

https://www.avalara.com/vatlive/en/vat-news/avalara-mtd-filer-free-tool-for-hmrcs-mtd.html

 

[Brendan]

I have spoken to my accountant this afternoon.

His words, we do your vat output - input via a spreadsheet. We will still use a spreadsheet and hmrc are providing them software which will convert spreadsheet to the digital version they want unsure if this is going be FOC to people who do their own vat but might be worth a phone call......

Also spoke to a lot of mates with business and they've all ran out and got quickbooks etc as there accountants have told them its what they need. But surely by getting there own accounting software, there either going to make the accountants life easier or realise they could just submit their selfs and do away with the accountant??

If it's anything like quickfile the accountancy software company will off a end of year tax return for a fee.
If you have whatever program your pretty much doing 90% of the work so if you have an accountant surely you should get a reduction in fees

 

[V8Druid]

my accountant saw my books once a year on a disc, did the end of year tax return submissions ... and still charged silly money for virtually sweet FA ..... thank **** I am out of all that sh1t

 

[V8Druid]

if you use a spreadsheet for vat there is a free addin to upload it to HMRC

https://www.avalara.com/vatlive/en/vat-news/avalara-mtd-filer-free-tool-for-hmrcs-mtd.html

so now they want the entire spread sheets, instead of the simple on line submissions??
fkrs can't cope as it is

the words "free addin" makes for a pleasant change though

 

[Regy53]

accountants do all my stuff

payroll
paye tax
vat refunds
monthly management accounts
yearly accouts
general support ( i need a bit haha )

circa 2-3k a year but we have a lot of papers

 

[Jimoz]

Done a bit more research. There's a few free programs and one which just converts your spreadsheet details into the submissions. Also looking around the consensus seems to be they will not implement in April as preparation has been piss poor. I'm only just getting my head around and nearly Feb

 

[Hydremaduck]

Waiting on an update from QuickBooks. HMRC keep telling us we can do "training" with reports up to the deadline date, then you read the small print and its not "training / practice " at all. Once you start, your IN!

 

[Pedrod355]

Anyone came across any decent software yet for this carry on....?

 

[Grahams]

Anyone came across any decent software yet for this carry on....?

I use Xero and find it quite straightforward after the accountant set it up for me. Bearing in mind I have no concept of double entry bookkeeping etc and couldn’t cope with sage it must be easy.
Graham

 

[Jimoz]

I'm putting it off till I get a spare day. Just going to use spreadsheet converter

 

[Jimoz]

Filed mine yesterday. Under 85k ytd so using old system. Have a 30k invoice soon but might even still be under next quarter with some creative dates. Hoping it's scrapped by time I'm over

 

[Pedrod355]

Anyone try’d freeagent?