Group & Consolidated VAT Accounts
BTCHub Updates: Import from Multiple Sources with Group VAT
BTCSoftware are excited to announce the latest updates for our MTD for VAT Software, BTCHub. Now it’s even easier to manage a group of companies’ VAT obligations, without breaking the digital link required by HMRC.
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 your clients are complying with Making Tax Digital rules.
Group VAT will be especially helpful when handling a client 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 that allows you to maintain your current bookkeeping and sales processes whilst meeting MTD for VAT requirements. Providing a dashboard view of clients, companies and obligations, it makes VAT Returns straightforward, and with our new BTCHub HMRC Spy feature it also empowers you with visibility of HMRC’s data held on individuals.
Talk to us
To speak to our friendly team about BTCHub, or any of our other software solutions, please get in touch on 0345 241 5030 or email email@example.com