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Making Tax Digital for VAT

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The solution for Enterprises

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Flexible and user-friendly MTD for VAT bridging software for your company

BTCSoftware’s MTD for VAT software is a cloud-based, Software as a Service (SAAS) product. It gives handy MTD for VAT bridging software functionality to enable compliance, but also without disruption to you and your companies existing accounting systems and processes.

BTCHub Control Centre

BTCHub has the following features

  • Management Dashboard
  • Control of submissions for Companies
  • Control of submissions for Individuals
  • Vat report centre
  • Dashboard view of your companies’ obligations
  • Dashboard view of all return payments and receipts
  • validates and submits VAT data in an MTD-compliant format to HMRC at the touch of a button
  • gives a window view of your organisation’s MTD VAT payments and refund history
  • has spreadsheet-friendly functionality – irrespective of how those are set up and what spreadsheet software is used. The software draws the data in digitally from the spreadsheet into an MTD for VAT compliant format for submission to HMRC with validation checking
  • Seamlessly integrate’s with VT Software
  • CSV SAGE imports are seamless
  • The software will integrate via APIs with Xero, Quickbooks, FreeAgent and Reckon One.  We are currently working with those bookkeeping software providers to achieve this.
  • It will accept CSV imports from Sage and other bookkeeping packages and we are currently working with those providers to bring this about.

User-friendly bridging software

It is an ideal bridging software tool to make MTD for VAT quick and effortless for your Enterprise and other companies. It will work seamlessly alongside your existing systems.

See the software in action through a series of short videos.  Here’s an example of the spreadsheet-friendly functionality in action.

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MTD for VAT Software for Enterprises

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  • BUSINESS
    £250
    • MTD for VAT filing to HMRC
    • Excel and bookkeeping import
    • Annual License
    • Telephone & Email Support
    • 250 Returns – Multiple VAT registrations
    • Multi-user - 5 Users
    • Dashboard view of VAT return obligations
    • Dashboard view of MTD for VAT submissions
    • Dashboard view of MTD for VAT Payments & Repayments
    • Company centralised database
    • Secure Amazon UK based server database
  • 125 ADDITIONAL RETURNS
    £125
    • MTD for VAT filing to HMRC
    • Annual License
    • 125 Returns Add-On
    • Requires Business or Professional Solution
  • ADDITIONAL USER
    £25
    • MTD for VAT filing to HMRC
    • Annual License
    • Additional User
    • Requires Business or Professional Solution

BTCSoftware’s Making Tax Digital for VAT (MTD for VAT) Business Solution is ideal for businesses who have to file single or multiple VAT returns for their company(s). It is quick and easy to use.

Which of your companies are affected by MTD for VAT and how?

From 1st April 2019 the bulk* of VAT-registered businesses with a taxable turnover above the VAT threshold (currently £85,000) will need 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

Those companies in your group affected must start following the MTD for VAT rules from the first day of their first VAT period that starts on or after 1st April 2019.

*Note:  Organisations with more complex VAT arrangements (such as trusts, not-for-profit organisations that are not companies (including some charities), VAT divisions,  public corporations, traders based overseas, those required to make payments on account and annual accounting scheme users) now have a deferred mandation date of 1 October 2019 instead.

The MTD for VAT submission still requires a business to complete the same nine boxes of information as the current submission.  The difference is that the submission has to be done digitally using HMRC functional compatible software.

Also bear in mind that different VAT schemes (like the Flat Rate Scheme, Retail Scheme and Margin Scheme) will require different details to be recorded and stored digitally. Review VAT Notice 700/22  for more detail.  Also, view HMRC’s latest guidance for businesses on how to prepare.

And for more insight to help you prepare, visit our MTD for VAT Help and Guidance Section

MTD for VAT Compliant Software for Businesses

BTCSoftware is one of the software developers HMRC named as supporting MTD for VAT.  This recognises that we have successfully:

  • Tested our products in HMRC’s test environment
  • Demonstrated a prototype of their software to HMRC
  • Proved our software is able to comply with HMRC’s rules and guidelines

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 2 years and were part of their private BETA programme for MTD for VAT over the summer of 2018, and now their public pilot.

How to prepare for MTD for VAT

In July 2018 HMRC published its VAT Notice 700/22 Making Tax Digital for VAT with clarity on how MTD for VAT will run from 1st April 2019. It covered what VAT records must be kept digitally and also included examples and guidance on rules.

HMRC has also published a Stakeholder Communication Pack and, more recently, updated its Guidance for Businesses – to give a more user-friendly explanation of MTD for VAT which, for example, agents can use to help their clients prepare.

With the launch of the public pilot in October came the announcement that some more complex organisations (approximately 3.5% of VAT-registered entities) will have their MTD for VAT mandation date deferred till 1st October 2019. HMRC also published details of how agents and their clients can sign up to the pilot.

Your companies affected by MTD for VAT will be VAT-registered businesses with a taxable turnover above the VAT threshold (currently £85,000). They will need 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

The bulk of those businesses must start following the MTD for VAT rules from the first day of their first VAT period that starts on or after 1st April 2019.

Those organisations with more complex VAT arrangements and – as a result – a 1 October 2019 mandation 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.

Helpful resources along the way

Accountants are in a great position to help their companies understand their obligations in relation to digital account-keeping and MTD for VAT.   We have produced a handy five-point free guide to help accountants and your companies get ready for MTD for VAT.

DOWNLOAD THE CLIENTS GUIDE

Also, take a look at the short demonstration video, and for further help visit our MTD for VAT Help and Guidance section.

MTD for VAT compatible software for you and your company(s).

BTCSoftware is one of the software developers HMRC has recognised as supporting MTD for VAT. This acknowledges that we have successfully:

  • Tested our products in HMRC’s test environment
  • Demonstrated a prototype of their software to HMRC
  • Proved our software is able to comply with HMRC’s rules and guidelines

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The HMRC Public gateway is now open

Can we help?

If you would like to talk to one of the team about our MTD for VAT solutions for your practice and clients, contact us  or call 0345 241 5030  or email Sales@BTCSoftware.co.uk

 You can also find the latest announcements on our blog or by following us on Twitter, LinkedIn or on Facebook.

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Do you need assistance? Why not send us an email and we’ll get back to you asap.

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