Easy Group MTD for VAT Returns with BTCHub’s Group VAT Feature
Date Published: January 24, 2020
Category: MTD for VAT, Making Tax Digital
Watch the Demo
Discover how simple it is to use the Group VAT feature in BTCHub with our quick demonstration:
What is Group VAT?
This new feature makes it possible to import multiple sources of data to BTCHub, and build up the consolidated VAT Return within the software. This will mean that all of the data used to build up the VAT Return is transferred out of your bookkeeping or sales software and into BTCHub without editing, ensuring that the group of businesses are complying with Making Tax Digital rules.
Group VAT is especially helpful when handling a business that runs a group of companies or divisions using different software in each company. Even if Company A is running Xero for bookkeeping, and Company B is using QuickBooks, BTCHub can take the exports and compile them into a single VAT Return. Sales or other data can be exported to a csv file and easily imported into BTCHub to build up the consolidated VAT figures.
Once you are happy with the return, you can simply submit it to HMRC from within BTCHub. If you need to make changes to your return data before submission you can discard individual imports, or even discard the whole return.
BTCHub is an online software that makes MTD for VAT simple for accountants in practice, industry, or VAT-registered companies. Developed in close consultation with HMRC, it is an approved bridging solution. It allows you to maintain your current bookkeeping and sales processes whilst meeting MTD for VAT requirements. A dashboard view of clients, companies and obligations makes VAT Returns straightforward, and our BTCHub HMRC Spy feature empowers you with visibility of HMRC’s data held on individuals. The Group VAT update brings yet more features to make Making Tax Digital easy.
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