Making Tax Digital for VAT
For Accountants in Practice, in Industry, Software Developers, Enterprises and SME’s
Here are just some of our practice users
Some of our customers
Including bridging software solutions for MTD for VAT
BTCSoftware solutions which have been tested at HMRC and are listed as compliant for MTD for VAT.
Making Tax Digital for VAT came into effect on 1st April 2019. From that date, businesses with a turnover above the VAT threshold (currently £85,000) will have to:
Keep their records digitally (for VAT purposes only), and…
Provide their VAT return information to HM Revenue and Customs (HMRC) through Making Tax Digital (MTD) functional compatible software
MTD will be available on a voluntary basis to other businesses, for both VAT and Income Tax.
MTD Matters Webinar recording which includes a demonstration of the software in action – Watch here
Read the webinar questions and answers – Read here
Register for our next Webinar – Register here
Having worked closely with HMRC BTCSoftware has developed a range of MTD for VAT software solutions. These have been tested by HMRC and listed as compliant.
As we are now beyond 1st April 2019, now’s the time to get ready. Fortunately, BTCSoftware has a range of MTD for VAT solutions to help and tailored to the unique needs of:
- Accountants in Practice
- Accountants in Industry
- Software Developers
- Single Businesses – eg limited companies, LLP’s
- Sole Traders/ Self-Employed Individuals
*Note: Roughly 3.5% of VAT-registered entities have been mandated into MTD for VAT from 1 October 2019 instead. These complex organisations include: trusts, not-for-profit organisations that are not companies (including some charities), VAT divisions, VAT groups, those public sector entities required to provide additional information alongside their VAT return (such as government departments and NHS Trusts), local authorities, public corporations, traders based overseas, those required to make payments on account and annual accounting scheme users.
Click on the relevant solution above to find out more about how we can make MTD for VAT easy for you.
The features and benefits of choosing BTCSoftware for MTD for VAT
We have developed a range of MTD for VAT Solutions to enable accountants and finance professionals to submit their MTD for VAT returns quickly and effortlessly. Our software’s development has been undertaken in close consultation and testing with HMRC’s Digital team. We have worked closely with them on Making Tax Digital for over 3 years and were part of their private BETA programme for MTD for VAT.
Here are all the user-friendly and time-saving features and benefits BTCSoftware’s MTD for VAT Solutions bring:
BTCHub Control Centre
BTCHub has the following features
- Provide you with a dashboard view of your client’s VAT account
- help you comply with the latest legislation
- have a minimum impact on your existing accounting systems
- Assist with your processes through its seamless integrations
- Control of submissions for Companies
- Control of submissions for Individuals
- Vat report centre
- Dashboard view of your clients’ obligations
- Dashboard view of all return payments and receipts
- Group VAT and Consolidated VAT feature
- Validates and submits – Our software validates and submits VAT data in an MTD-compliant format to HMRC at the touch of a button.
- VAT history – It provides a window view of the organisation’s/sole trader’s MTD VAT payments and refund history. Practitioners and businesses alike can gather historic MTD VAT return data from HMRC and view it to see what has been submitted historically.
- Excel & Spreadsheet-friendly – the software enables Practitioners and Businesses to keep their VAT data in their existing and even multiple spreadsheets – irrespective of how those are set up and what spreadsheet software they use. BTCSoftware’s MTD Solution draws the data in digitally from the spreadsheet into an MTD for VAT friendly format for submission to HMRC.
- API import for legacy and non-compliant systems (developers choice)
- Quick authorisation – It also provides a quick online agent-client authorisation process with HMRC replacing (for MTD VAT only) the old 64-8 forms.
- VT Software-friendly – The software can read VT VAT data
- Sage friendly – The software imports Sage CSV data
- Integrate via APIs with Xero, Quickbooks, FreeAgent and Reckon One. We are currently working with those bookkeeping software providers to achieve this.
- Easy CSV imports – It will accept CSV imports from Sage and other bookkeeping packages and we are currently working with more providers to bring this about
- User-friendly bridging software – It is the ideal bridging software tool to make MTD for VAT quick and effortless
Need further help?
If you have any questions relating to MTD for VAT or would like a one-to-one demo of any of our products, contact the sales team at:
e: email@example.com or t: 0345 241 5030