Making tax digital

johnhemming

soolin wrote: »

I'm not sure you are talking about the same thing.

You are right that there is not a lot of accurate information around. I am, however, personally writing this sort of software. Hence I know it technically at the lowest level of detail.

The VAT process becomes compulsory for about 1 million businesses in April, but they can use bridging software if they wish. Most of the bridging companies (including the one I work for) offer a free introduction and don't charge that much anyway.

From April 2020 people need to have digital links for VAT. With Brexit around HMRC are concentrating on the risks of no deal which means that most other things have come to a halt. Although Self Assessment is live as a pilot scheme no date has been set for it being compulsory and I cannot see the date of 2020 as being set. That is, however, as you say a quarterly submission of accounting information and not annual.

RFW

As a VAT registered business the change for me makes any future changes to self assessment quite simple. I'll have all the details in there from the VAT so barely need to do much more on top of that.


Just a quick word on Quickbooks, I'm finding it quite easy to use. The ability to upload invoices from any device is straightforward and very useful. I don't use Paypal much but you can link up to Paypal to get all your transactions straight on to Quickbooks, similarly from Shopify.