Making Tax Digital

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  • ddaddy
    ddaddy Posts: 27 Forumite
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    From April 2020 you must use digital links only. So Importing from Excel is fine, as is using bridging software to submit from your Excel data. Manual entry and copy/paste will not be allowed.
  • stphnstevey
    stphnstevey Posts: 3,224 Forumite
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    gilbertthecat wrote: »
    I work at a 'small business' and have, until now, happily used the HMRC portal to submit our VAT figures.

    We are like the vast majority of businesses - who are very used to this mechanism for submitting VAT returns and do not want to sign up for solutions which may not suit how they have operated for many years.

    With this in mind we have written a totally Free, HMRC recognised MTD VAT portal which will allow users to continue to submit figures in the way they have been used to.

    We do not ask for any sort of registration or sign-up and have made the software Free for anyone to use. Just need to sign-in with your Government Gateway account credentials at (https) vat.portico.openanswers.co.uk - or search for Portico on the HMRC Find software for Making Tax Digital for VAT page.

    I hope that people find this useful.

    Cheers, Jeremy

    Hi Jeremy

    I am going to be using your software and also others have commented on here they have also. It would be good if we can give feedback or maybe ask for help, so your interaction on this thread is welcome
  • johnhemming
    johnhemming Posts: 22 Forumite
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    edited 20 July 2019 at 5:30PM
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    Ash_Pole wrote: »
    Is this then going to be non-compliant from 2020? If so what if we used the Sage import function to upload the journal from Excel, would that be ok?
    What @ddaddy says is essentially right.

    From 1st April 2020 you are supposed to have digital iinks between all parts of your digital records and the API. The rules are defined in this vat notice.

    https://www.gov.uk/government/publications/vat-notice-70022-making-tax-digital-for-vat/vat-notice-70022-making-tax-digital-for-vat

    This can be overcomplicated by some of the reports. In essence you are required to have digital records so that you have a list of the invoices in and out (you can summarise retail scheme transactions with a daily gross takings)

    Those need to automatically add up to the figures going in the vat return.

    This, however, does not prevent someone keeping manual accounts and typing all of the figures into a spreadsheet at the end of a quarter and generating the return from that.

    If, therefore, you type a complete list of the invoices from one system into another then you don't have to automate the link. However, if you are taking totals from one system and journalling them into another (from which the submission is made) then that is not allowed.
  • gilbertthecat
    gilbertthecat Posts: 7 Forumite
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    stphnstevey wrote: »
    Hi Jeremy

    I am going to be using your software and also others have commented on here they have also. It would be good if we can give feedback or maybe ask for help, so your interaction on this thread is welcome

    Hope the system is useful and happy to help. FYI Portico got mentioned recently on BBC Radio 4 Money Box 'avoiding extra costs of Making Tax Digital for VAT' - available on iPlayer, Last on Sun 23 Jun 2019
  • jaybeetoo
    jaybeetoo Posts: 1,337 Forumite
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    Just submitted my wife's VAT returns for Q1 using bridging software from an Excel spreadsheet (where we do the accounts). It was simple to do.

    There are currently 159 providers of bridging software. I can't believe there will be that number in a few years as they can't all make money out of it.

    My concern is I could be forced to change MTD software on a regular basis as companies drop out of this market. We'll then be left with a few suppliers and I'm sure the cost of MTD bridging software will then increase.
  • jaybeetoo
    jaybeetoo Posts: 1,337 Forumite
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    zebedyboy wrote: »
    Being a small company of just 2, and only just exceeding the threshold, we are looking for a free or low cost bridging software for next VAT return submission in September for May, Jun, Jul. Does anyone recommend PORTICA or 100PcVatFreeBridge (Comsci) both free, or CMH bridge at £7.50 plus VAT per return. Or can you recommend any other low cost solutions to suit? My records are held in Excel 2010. I have not yet registered for MTD filing. Thank you.

    I'm using VitalTax. It was free when I signed up but it is now free for 1 year and then £1 a month.
  • kevin_grey
    kevin_grey Posts: 13 Forumite
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    It looks like several of the bridging software packages are free, KVAT is free and will continue to be free as long as Kavina systems uses a spreadsheet for accounting. It would seem likely that as HMRC expands MTD requirements spreadsheets will be replaced with more complicated accounting packages. This would not imply that free software will not be available it will just be in a different form

    Regards
    Kevin
    jaybeetoo wrote: »
    Just submitted my wife's VAT returns for Q1 using bridging software from an Excel spreadsheet (where we do the accounts). It was simple to do.

    There are currently 159 providers of bridging software. I can't believe there will be that number in a few years as they can't all make money out of it.

    My concern is I could be forced to change MTD software on a regular basis as companies drop out of this market. We'll then be left with a few suppliers and I'm sure the cost of MTD bridging software will then increase.
  • jaybeetoo
    jaybeetoo Posts: 1,337 Forumite
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    kevin_grey wrote: »
    It looks like several of the bridging software packages are free, KVAT is free and will continue to be free as long as Kavina systems uses a spreadsheet for accounting. It would seem likely that as HMRC expands MTD requirements spreadsheets will be replaced with more complicated accounting packages. This would not imply that free software will not be available it will just be in a different form

    Regards
    Kevin

    Sadly it is Windows only.
  • johnhemming
    johnhemming Posts: 22 Forumite
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    There are over 400 suppliers of MTD software now. A small number of those such as vat direct can handle Apple equipment and Apple Numbers spreadsheets..

    It is likely that there will be a winnowing out of suppliers over time, but providing a bridging service for MTD vat does not have a lot of overheads on a day to day basis beyond support costs. Hence I would expect there to remain quite a few in the low cost (under £10 a year to free) category.
  • ddaddy
    ddaddy Posts: 27 Forumite
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    jaybeetoo wrote: »
    Sadly it is Windows only.
    There’s native Mac and iOS MTD apps available on the relevant app stores. Search ‘VAT MTD’
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