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MTD - not VAT registered

IRememberItWell
Posts: 54 Forumite

in Cutting tax
My accountant tells me that it will be a couple of years before MTD cuts in for me. Does anyone know of good bridging software suitable for someone with Excel, who is not registered for VAT but has a BTL and standard savings products. I want to keep things simple. Thanks in advance.
IRIW
IRIW
0
Comments
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Does your Accountant not have the bridging software?
I do my Ltd Co accounts in Excel, and the Accountant takes care of the MTD bridging software.
If your Accountant want you to have your own bridging software, best to ask the Accountant what to use as that will minimise the Accountant bills.0 -
I am in the same position with a small limited company which up till now has not had to register for MTD, although it is registered for VAT purposes. It looks like this company will need to register for MTD in the early part of next year.As an Excel user myself, I was planning to use bridging software which is an add in for Excel software. It's free to download and I believe the first submission is free followed by a minimal cost of £1 per month.I have watched a small video presentation and it seems extremely easy to use.Its called VitalTax and the link is as followsSeems a total faff just to get 9 numbers in the right boxes, but I say no moreI'm using Microsoft Office 2016, but am not sure whether this add on works in previous versions.Anyway, just a thought to add to your option list
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Very many thanks for the helpful replies.
I'm relieved that at present I don't have to do anything but I will ask the accountant about bridging software. In their round robin to all clients they mention something called Xero (?) but I suspect that's a full-blown software program for larger concerns. I guess one should start using the MTD option a year before it becomes compulsory because it would be awkward to run into a glitch at the last moment.
One other thing I'm not clear about: with MTD will my tax return still be dealt with by the accountant? Or will I submit details for her to check? Or does MTD by-pass the accountant altogether?
IRIW0 -
You can authorise your accountant to submit returns using MTD. Xero is a full accounting package.0
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