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Perfect Windows

  • Posts: 4179
Making Tax Digital
« on: April 04, 2019, 02:45:33 pm »
Anyone wrestled with this yet?  Has anyone found software to handle the job?

Cheers,

Vin

John Mart

Re: Making Tax Digital
« Reply #1 on: April 04, 2019, 04:08:37 pm »
Simplest solution I found after a terrifying call with Sage.

https://www.absolutetax.co.uk/products/making-tax-digital

Arnold Palmer

  • Posts: 20800
Re: Making Tax Digital
« Reply #2 on: April 04, 2019, 06:18:45 pm »
I just use sage 50. Always have.
#aliens

Arnold Palmer

  • Posts: 20800
Re: Making Tax Digital
« Reply #3 on: April 04, 2019, 06:21:27 pm »
Simplest solution I found after a terrifying call with Sage.

https://www.absolutetax.co.uk/products/making-tax-digital

Sage tried to scare me into spending more money too. Turns out, if you're up to date with their accounts software, you're fine.
#aliens

John Mart

Re: Making Tax Digital
« Reply #4 on: April 04, 2019, 06:27:00 pm »
Simplest solution I found after a terrifying call with Sage.

https://www.absolutetax.co.uk/products/making-tax-digital

Sage tried to scare me into spending more money too. Turns out, if you're up to date with their accounts software, you're fine.
I think with hindsight I didn’t get someone particularly helpful on the phone. He talked about creating a record in Sage for every single sale and achievable or not, it would have been a very steep learning curve that Mrs 8 weekly doesn’t have the time for.

The one we use is really easy and just an Excel template really that you can simply copy and paste your numbers into. I honestly fail to see the benefit to HMRC of that or typing your numbers into a box.


Arnold Palmer

  • Posts: 20800

Arnold Palmer

  • Posts: 20800
Re: Making Tax Digital
« Reply #6 on: April 04, 2019, 06:28:54 pm »
Simplest solution I found after a terrifying call with Sage.

https://www.absolutetax.co.uk/products/making-tax-digital

Sage tried to scare me into spending more money too. Turns out, if you're up to date with their accounts software, you're fine.
I think with hindsight I didn’t get someone particularly helpful on the phone. He talked about creating a record in Sage for every single sale and achievable or not, it would have been a very steep learning curve that Mrs 8 weekly doesn’t have the time for.

The one we use is really easy and just an Excel template really that you can simply copy and paste your numbers into. I honestly fail to see the benefit to HMRC of that or typing your numbers into a box.

My (chartered) account was adamant that mtd does not require a drill down function for every record (yet). My advice would be, as always, ask an accountant.
#aliens

johnwillan

  • Posts: 313
Re: Making Tax Digital
« Reply #7 on: April 04, 2019, 06:38:36 pm »
Anyone wrestled with this yet?  Has anyone found software to handle the job?

Cheers,

Vin

Most accountants will submit on your behalf using information provided on a spreadsheet, however I think Aworka will have a solution soon, not sure about Cleaner Planner.

Moving forward I think for certain operations Aworka, Cleaner Planner etc will simply act as "Planners" with API integration to Xero etc for "Full" accounts.

HTH

John

Ooooooog

  • Posts: 1083
Re: Making Tax Digital
« Reply #8 on: April 04, 2019, 07:27:32 pm »
Xero

I’ll try and find a link.

GeorgeP

  • Posts: 29
Re: Making Tax Digital
« Reply #9 on: April 05, 2019, 11:30:55 am »
We are using Xero, takes time to set up but good once on it

John Mart

Re: Making Tax Digital
« Reply #10 on: April 05, 2019, 11:36:21 am »
We are using Xero, takes time to set up but good once on it
The Absolute one is totally simple. Fifteen minutes to be up and running. That's why I went for it.

Arnold Palmer

  • Posts: 20800
Re: Making Tax Digital
« Reply #11 on: April 05, 2019, 12:05:28 pm »
We are using Xero, takes time to set up but good once on it
The Absolute one is totally simple. Fifteen minutes to be up and running. That's why I went for it.

Does it not do mtd then?
#aliens

John Mart

Re: Making Tax Digital
« Reply #12 on: April 05, 2019, 12:35:20 pm »
We are using Xero, takes time to set up but good once on it
The Absolute one is totally simple. Fifteen minutes to be up and running. That's why I went for it.

Does it not do mtd then?
Yes. You simply copy the key numbers into their boxes and submit. Watch from 1:40 if you can be bothered.

https://www.absolutetax.co.uk/products/making-tax-digital

Arnold Palmer

  • Posts: 20800
Re: Making Tax Digital
« Reply #13 on: April 05, 2019, 12:45:59 pm »
We are using Xero, takes time to set up but good once on it
The Absolute one is totally simple. Fifteen minutes to be up and running. That's why I went for it.

Does it not do mtd then?
Yes. You simply copy the key numbers into their boxes and submit. Watch from 1:40 if you can be bothered.

https://www.absolutetax.co.uk/products/making-tax-digital

Sorry, I thought you were speaking about Xero
#aliens

Perfect Windows

  • Posts: 4179
Re: Making Tax Digital
« Reply #14 on: April 06, 2019, 07:42:35 am »
Thanks all.

I don't use Sage.

I've found two solutions. One's Avalars's Excel add-on and is free. The other is VitalTax.  £12 a year after the first year. They both appear to allow you just to choose which fields in a spreadsheet to send to HMRC.   I'm going to look at both.

Progress, eh? I can't type into HMRC's system but if I type into a field in Excel and have software to send to HMRC, that's OK.

Vin

Arnold Palmer

  • Posts: 20800
Re: Making Tax Digital
« Reply #15 on: April 06, 2019, 08:49:27 am »
Thanks all.

I don't use Sage.

I've found two solutions. One's Avalars's Excel add-on and is free. The other is VitalTax.  £12 a year after the first year. They both appear to allow you just to choose which fields in a spreadsheet to send to HMRC.   I'm going to look at both.

Progress, eh? I can't type into HMRC's system but if I type into a field in Excel and have software to send to HMRC, that's OK.

Vin

I think this will be step one in a process that ends in much more transparent tax reporting. For us oiks anyway.
#aliens

Crystal-clear

  • Posts: 3029
Re: Making Tax Digital
« Reply #16 on: April 08, 2019, 10:18:40 am »
Started using an accountant.takes a load of the burden from me and complys with mtd.he has read only access to the bussniess account as well . Actually frees up my time to focus on building the bussniess.you will find in a short time frame you'll earn his monthly fee simply by not needing to do those little things he does alot better and faster then we can.just like a customer he could do his own glass but why would he spend 2 hours when we could do it in 20 mins for example.