We have received notice today that HMRC have opened up access to the Making Tax Digital (MTD) VAT Pilot for all customers that will be mandated to use the new MTD system from April 2019. Amongst other things this will remove the previously imposed restriction on those reporting figures in boxes 8 and 9 on their VAT returns.
We are continuing to see an increase in those joining the scheme and enabling the MTD reports and filing tools within QuickFile. We remain on-hand to assist any users who’d like to migrate ahead of the deadline or have any questions regarding Making Tax Digital.
Our priority now is to work with HMRC to enable Agent Access well in advance of the April 2019 migration date. We will continue to update you on developments in these areas.
I have not looked at the VAT submission element yet (I use the Flat Rate Scheme) and my question is … Does Quickfile offer a means of seeing your VAT return, the invoices included etc, before using the HMRC log in?
I suppose it’s about avoiding errors … in other words . I do the preparation work manually (which takes about 10 mins) and can double check what quickfile is saying?
Yes you have access to the full backing report before making a submission. The MTD system just changes the actual method of delivery to HMRC and includes a number of other real-time reports that you didn’t have before, e.g. view open/closed periods, payments on account, liabilities, previously filed returns etc.
In terms of the interface for submitting a VAT return most people will see little difference here.
Hope that helps!
In fairness, I asked the question; then looked at the VAT submission … I saw immediately that there have been software developments and as such my login actually answered my question
I’ll wait until the end of February and compare the Quickfile v my calculation
I am rather hoping that they match … I especially like the fact that you have provided options such as accrual accounting (which I use)
I am a bookkeeper and use your software for many of my clients as well as my own accounts.
For some of the accounts I have clicked the “enable MTD Pilot settings” in order to prepare for MTD.
I do not want to go live until 1st April and have completed the government gateway section. Is this right? or have I set them up to start too early?
Please can you explain how this works, what I should be doing and when I should be doing it.
At the moment, the HMRC account would also need to be enrolled on the MTD VAT pilot. Any VAT returns required to be submitted from when you sign up would require them to be submitted through MTD, or HMRC will reject them.
There’s no right or wrong answer here (sorry). If you have VAT returns needing to be submitted before April and you’re happy to be part of the pilot scheme now, then sign up now. Otherwise, I’d wait a bit longer. As I said above, HMRC will expect all VAT returns to be submitted using MTD from the point of sign up.