Making Tax Digital

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  • neilsedaka
    neilsedaka Posts: 396
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    Ozzuk wrote: »
    Before that date, cut and paste will be an acceptable way to transfer information.

    That shows huge incompetance within the HMRC. They apparently don't know that there is a huge difference between "cut and paste" and "copy and paste".
  • The reason for MTD is to prevent mistakes such as cut n paste and typo's, It should be remembered that when you click submit you are giving the go ahead to pay HMRC whatever has been entered
  • neilsedaka
    neilsedaka Posts: 396
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    Why are people using the word "cut" rather than "copy"? "Cut" means to delete the original.
  • longforgotten
    longforgotten Posts: 1,093 Forumite
    Before writing this I admit I have not read this thread from the start...............


    With regard to the use of spreadsheets and bridging software. Big companies , the likes of Boots the Chemist, use spreadsheets for the calculation of their VAT. They have so many types of different supply, partial exemption calculations, spreadsheets are the only way they can calculate their VAT.


    Spreadsheets will not be going in a hurry. HMRC cannot say no to the small businesses while saying yes to the Big players.


    So keep your spreadsheets and get yourself some bridging software. Indeed keep your old software , send your VAT return out to excel and then use bridging software.


    MTD has been changing closer we have got to 1 April 2019 and the acceptance of spreadsheets has only really come to the forefront recently. Get advice from your accountants is best.
  • MTD is about keeping digital records, spreadsheets do comply as digital records. There is no need to go away from spreadsheets
  • longforgotten
    longforgotten Posts: 1,093 Forumite
    Yes, no need to stop spreadsheets as long as you get bridging software
  • baz2277
    baz2277 Posts: 49 Forumite
    I posted on this thread a while back re MTD, and have since taken the plunge with Quickbooks - I'm still very cautious about it, and have decided to run my existing Sales/Costs spreadsheets which i've always used alongside Quickbooks for a few VAT returns to make sure the figures match.

    I've spent hours and hours getting to grips with the program (as well as a long time on the phone to sort out my account / get questions answered). I've now heard that HMRC are relaxing some of the rules since the spring statement about the introduction of MTD, but can't find much about this on the web - anyone got any ideas?
  • kevin_grey wrote: »
    Hi,
    MTD for VAT will come into effect on the 1st April, I have developed free software for anyone who wants to continue to use a spreadsheet or during the soft landing period (until 1st april 2020). This has been approved by the HMRC

    This sounds good, what's it called?
  • Ozzuk
    Ozzuk Posts: 1,884
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    Before writing this I admit I have not read this thread from the start...............


    With regard to the use of spreadsheets and bridging software. Big companies , the likes of Boots the Chemist, use spreadsheets for the calculation of their VAT. They have so many types of different supply, partial exemption calculations, spreadsheets are the only way they can calculate their VAT.


    Spreadsheets will not be going in a hurry. HMRC cannot say no to the small businesses while saying yes to the Big players.


    So keep your spreadsheets and get yourself some bridging software. Indeed keep your old software , send your VAT return out to excel and then use bridging software.


    MTD has been changing closer we have got to 1 April 2019 and the acceptance of spreadsheets has only really come to the forefront recently. Get advice from your accountants is best.

    that is fine for this April, but as per my post HMRC are taking this a step further for April 2020, you'll have to submit from inside your ERP.

    If your main ERP is excel, then maybe a plug in would suffice, however if you are exporting data to excel from your ERP, then using bridging software it looks like this will not be allowed post March 2020.

    I'm no expert though - just going off the gov website and what our research has found. Lots of companies springing up offering a seamless solution which suggests this will be the way forward. Pennywise seems adament this won't happen though. It is going to take us many months to adapt our SAP system so we are proceeding as if it is a given.
  • neilsedaka
    neilsedaka Posts: 396
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    I have read the information in the link kindly posted by Ozzuk in #41. It says bridging software from Excel to HMRC will be fine for the forseeable future. As a concession, copy and paste from your existing method to Excel will be allowed until April 2020, but thereafter the method of transferring the data into Excel has to be via seamless software, not via manual copy and paste.
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