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MTD (making tax digital)

Hello Glenn,

We are interested to know how Quickfile is planning to integrate with MTD. Could you please let us know of any progress made yet?

Hi @ElpisBS

Our stance is very much the same as per our previous posts:

We also have a recent blog post on Making Tax Digital here.

We do plan to integrate with MTD, but until things have been finalised by HMRC, it’s difficult to say how this will look. Of course, we will post any updates as soon as we can confirm anything, on our forums.

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Hi guys,

Have just had a webinar from HMRC on MTD and software. As usual their whole timetable is ridiculous. They are saying that the earliest they are expecting you to be ready for us to be able to use the MTD software is May/June, and that basically as agents we can’t sign up to MTD until you’ve developed your software…even though our clients can opt to join the pilot from April! They also seem to be saying that they’re still ‘communicating’ with software companies, which suggests to me that there is no plan and they’re rushing something through that no-one (least of all them) is ready for.

I think I’m unsure of what it is they want you to be able to do - from their screenshots it looks like essentially just a link (and I don’t mean that in a derogatory way, I appreciate the work that goes into ‘just a link’) to their software and a way of scooping up some of the accounts data in the same way that VAT returns work and sending it over to them?

How are you getting on with it all? Do you think there is any possibility of being ready to launch in June?

:slight_smile:

The rollout for MTD will begin in April 2018, there is a further 1 year reprieve for smaller unincorporated businesses below the VAT threshold (£83,000), this was announced in the Spring Budget.

There are some pilot schemes planned for 2017, although currently we won’t know the precise reporting requirements for MTD until the 2017 Finance Bill reaches it’s final stage. There are also no HMRC schemas we can work from at this current time. We will of course keep you posted.

Hmm I feel like agents are getting different info to what you’re getting. From an agent/accountant point of view the public are allowed to sign up as part of the pilot from Apr 17, which means that if I have a client who signs up to the pilot I currently don’t have software to be able to actually submit the data. On top of that agents/accountants can only re-register with HMRC as agents (mandatory for MTD) once our software suppliers (you) have created a portal within your software so enable us to reach the registration pages at HMRC. According to HMRC the first software providers will be intending/able to release this functionality in Jun 17…3 months after clients can sign up! Obviously we can hope that clients don’t want to sign up to the pilot and then it’s less of an issue (although it would be useful for us as well to have a guinea pig). It’s just yet another example of how HMRC go out of their way to make accountants lives difficult!
If it would be helpful to you to see what we are being told I think I can send you a link to view the training webinar.

@BKK I’ve sent you a message, feel free to post the webinar link either here or in reply to my message.

This is link for webinar for Businesses , Talking Points - Making Tax Digital 28th March 2017

That’s just the signup link I think.

@Glenn I’ll send you the recording link

one can just put detail and webinar recording will start

Here is MTD for agents Webinar from hmrc, just put your details and recording will start playing

Can we have an updated on MTD and how quickfile will work with it?

Hi @tonyc1978

I’ve merged your post here to keep everything in one place. Please see the recent posts above, specifically the post from my colleague @Glenn

Thanks, but this hasnt really answered the question!!

whats Quickfile’s timetable and approach to MTD going to be, is there going to be any additional costs?

It’s difficult to say at this moment in time as there are no firm plans in place for MTD from HMRC’s perspective. Until things have been confirmed, we’re unable to plan any timeframes or changes ourselves unfortunately.

i appreciate HMRC arent being too helpful, but other software providers are able to advise on their approach and how they expect it work with them

Until the plans have been finalised and HMRC can release how things are going to work, we can’t confirm anything 100%. However, I have included a quote from one of my previous posts which may help:

Any commentary at this stage is speculative and we’d rather wait until the finer details have been resolved.

As we’ve stated before we are committed to supporting MTD filings within QuickFile, these are likely to take a form that resemble a VAT return, i.e.quarterly submissions that include a number of headline figures, covering income, expenditure and taxable profit. At the end of the year HMRC will expect you to file a declaration along with any adjustments to the previously supplied summary data.

We’ve also posted a number of MTD key points on our blog.

We do not plan to introduce any additional charges for MTD filing at this stage, although as you can appreciate it’s difficult to make any guarantees until we know the precise reporting requirements. We will most likely not provide any MTD filing options on free accounts.


EDIT 27th April 2017:

Following yesterdays announcement:

Making Tax Digital scheme shelved

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