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Discuss MTD Software for VAT ..... plus? in the Electrical Forum area at ElectriciansForums.net

DefyG

Regular EF Member
Looking (at the 11th hour) into MTD software.

Has anyone any recommendations (for small business upto 10 employees - if size matters!) or more importantly the pitfalls of a particular software?

Cheers
 

Charlie_

Electrician's Arms
I’m still using QuickBooks Pro 2006.
Have it set up on a windows vista os, too tight to upgrade and start paying a monthly subscription
 

Murdoch

Electrician's Arms
Not people being shy ............ MTD is only relevant to people who are VAT registered and many on here aren't ...........
 

DefyG

Regular EF Member
I’m still using QuickBooks Pro 2006
Thanks Charlie, not sure if the 2006 version is MTD compatible but seems many (small businesses) are going the quickbooks (latest edition) route!
Bit over whelming looking on the HMRC website at the number of MTD approved software that is available!

VAT registered and many on here aren't ...........
Find it hard to believe that even a sole trader can keep under the £85k limit these days!
 

Murdoch

Electrician's Arms
Find it hard to believe that even a sole trader can keep under the £85k limit these days!
Easy!

I suspect a lot of people are way under this limit too.
 

BrendonP

Active EF Member
I have just started using Quickbooks online since feb this year. Im finding it great and the apps are good.
The best thing i have found with quickbooks has to be the outstanding customer support. They will help you set it up and answer any questions and show you how to do the dits your stuck on. I am very impressed with them. ( and no they haven't paid me )

As a note on MTD i believe it is extending to all business (not just vat registered) including self employed, freelance, sole trader etc
 

TonyMitchell

Electrician's Arms
Sage and other providers want to use MTD to force people onto their 'pay monthly' cloud based software. Reality is for us and probably most small businesses, this will just add cost and no benefit, which is why we won't be going there! (Our Sage version is five years old)

This video seems to explain simply what is and isn't acceptable in terms of Excel submissions.

After watching it, as an exercise, I exported our last Sage VAT return to a two tab excel file (detail and summary) and replaced the text output with formula, then replaced the box 1-9 text output on the 'summary' tab with calculations pulling the respective values in from the 'detail' tab. I added a check formula for boxes 1-9 to confirm 0 variance between my formula and the initial Sage data. It took about 10 minutes to make an MTD compliant Excel file.
 

Aurai

Regular EF Member
Sage 50 Accounts, does make it entirely painless as far as I am concerned. While Sage certify the software is compliant though you also have to register through Government Gateway and time is running out. Regards
 

andyb

Electrician's Arms
I use Kashflow for £15.00/month linked to Receipt Bank for saving my invoiced digitally.
Very happy with it.
 

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