Since Making Tax Digital (MTD) was announced, from April 2019, HMRC is fundamentally changing the way taxpayers and HMRC report and process accounting data.
Updated: April 2019
At UHY in London and Nottingham, we can provide a secure affordable bridging software which enables businesses to submit their data to HMRC in the required Making Tax Digital format, even if you are not using complaint bookkeeping software.
We can offer this not only to our existing clients but also new clients who wish to come on board.
Our bridging software solution is ideal for clients who:
- use an Excel spreadsheet to keep their accounting records and calculate their VAT totals
- use older accounting software who do not wish to update to the latest versions or change to alternative software
- use a bespoke or overseas accounting system from which you can export a CSV file of the 9 boxes calculated but which are otherwise not MTD compliant
- need a filing solution for group or divisional VAT returns
- have a functional currency other than GBP and so cannot submit VAT returns directly from their software.
Our solution enables you to continue to use your current electronic version of whichever accounting software you use without having to overhaul your processes or spend big. The main requirement is that you would need to be able to export either the values for the nine boxes for your VAT return or invoice listings on which these can be based to a spreadsheet.
The bridging software then allows you to upload your data to HMRC in the required format. As long as you are keeping your records digitally, this is enough to be compliant with the new Making Tax Digital rules that have come in on 1st April 2019.
Our bridging software solution costs £75+VAT per annum, per VAT registration.
Please get in touch with your usual UHY contact, MTD specialist Matthew Granger on 020 7216 4672 or email us email@example.com if you would like to find out more.
Click on the links below to read our MTD experts’ opinion:
07 March 19: Frequently heard myths about MTD are put to rest.
18 Feb 19: MTD is still causing anxiety for business owners and finance teams alike.
13 Nov 18: There are two major changes to the VAT system on the way