HELLO the UK have some new legislation coming in about Tax software called Making Tax Digital, does quickfile know about this and is it complient?
MTD is something we are working on in the background - there are still parts which need to be finalised by HMRC. I’ve included a few links below to posts we’ve released on our situation with MTD, including features we have available now are part of this scheme.
- Making Tax Digital - How will it Work?
- Making Tax Digital - Key Points
- New Making Tax Digital Periodic Update Report
- Making Tax Digital VAT Pilot Scheme
QuickFile is also listed on the Gov UK website as supporting VAT returns as part of MTD (related to the above blog post):
Is QuickFile going to support MTD from April 2019?
I can see that you are listed on HMRC’s approved list of software. However, throughout your different forums and threads I cannot get a straight answer?
Can you please explain CLEARLY your stance on MTD?
@eeilish - I’ve moved your post here as my above post explains our stance on MTD.
But just to confirm - it is something we are working towards, albeit some details still need to be confirmed by HMRC. We are still running the pilot VAT scheme, which you’re welcome to join if your business is eligible. The details of this are in the above linked post.
Do you have a timeline for implementing proper support for the reverse charge on purchases without needing to adjust the VAT return manually, as any manual adjustments seem to be frowned upon under MTD?
(As I’ve explained before, the current tick box that is labelled “apply reverse charge” doesn’t actually apply the reverse charge - which is used for services and requires the VAT to go in box 1 and the net in box 6 - it instead applies the rules for EC acquistions - which pertain to goods and put the VAT in box 2 and the net in box 9)
I don’t have any timelines at the moment unfortunately, but if and when anything changes here, we’ll certainly post it on the forum.
Please can you explain exactly how QF will compile with the new MTD rules.
I’ve moved your post here. Please see the links I posted above, which will hopefully help.