Using bridging software for MTD

DRS1

i read on an accountancy forum where the accountants were discussing the topic with each other and wondering if they can just push through rubbish in the quarterly reporting and clean it all up for the final reporting as that is the one where the tax is calculated. this way they can reach the quarterly submissions deadline easier if they don't have to be so pedantic about it 😁

I guess that may be possible. At least to start with.

I remember reading some stuff about how you couldn't put through manual corrections and how you needed some sort of link between cells in the spreadsheet. All of which made me very nervous about what you would do if you made a mistake. I think you can actually update one quarter's submission in the next quarter so maybe it is not as bad I feared.

mills112

https://forums.moneysavingexpert.com/discussion/comment/82152933#Comment_82152933

as it is early days, i doubt if HMRC is actually going to pay a huge amount of scrutiny to what is submitted, even if they get submitted at all! but yeah, i think the accountants were saying that they can always update the figures through the next quarter, that as long as the final submission is correct, they could probably get away with errors in the submissions leading up to the final submission as HMRC won't be reviewing these in any great details at the moment as everything is new.

i do think that once everyone is used to the system and HMRC has been able to cope with the changes themselves, the bots will be brought in to investigate patterns between the quarters and raise red flags if they see large changes from one quarter to another. i believe that is what MTD is all about, to allow the AI more data to work with to find the cheats 😁

mksysb

https://forums.moneysavingexpert.com/discussion/comment/82152933#Comment_82152933

The quarters are cumulative, so anything missing from one quarter will show up in the next quarters reporting.