I have a Ltd micro business that has been fully digitlised since 1998. I file my own VAT returns, Income tax returns and Ctax returns. I am fully conversant with all the peculiarities of my early version of Quickbooks. It works just fine for me and any entry, bank record, purchase order and invoice is fully traceable within a couple of minutes. It is also fully bombproof against future Microsoft attempts to make older programs obsolete by running in Oracle’s Virtual PC.
I was somewhat stunned when completing my quarterly VAT return I noticed a big paragraph in red that said the service was ceasing In April 2019. Further research indicated that something is also afoot for income tax returns but it isn’t particularly clear what is happening.
So I have two questions. Can anybody point me to where I can find out exactly what is the Revenue’s intention in full. For example will each quarterly VAT return in effect be a mini set of accounts?
Secondly is there anything available for as little money as possible that enables me to extract summary data from my existing software and enter it in to software that transmits it to HMRC.
I know I’m not alone. I rang a close self employed friend who hadn’t heard a word about this.
Thanks in advance