From April 2019, all eligible UK VAT-registered businesses will have to keep their financial records in a digital form and submit their VAT returns using approved software. Find out whether you are eligible here.
This article is for accountants who are eligible, or have clients who are eligible for Making Tax Digital (MTD) or signed up for MTD voluntarily.
Here are some steps that you have to complete before you begin using QuickBooks to submit VAT returns to HMRC for MTD.
- Set up your agent service account with HMRC. This has to be completed on HMRC's website.
- Authorise QuickBooks to interact with HMRC.
- Prepare a list of clients that are eligible and set them up on HMRC and QuickBooks.
Once this is done you can start submitting VAT returns to HMRC on behalf of your clients through QuickBooks.
Your client can still submit their own VAT return even after being added to your Agent Services Account. To do this your client must have their own HMRC MTD credentials (User id & Password) and log in to QuickBooks to authorise their HMRC credentials.
You can still access your client's VAT return even though they have submitted their VAT return themselves. Once a return has been successfully been submitted through MTD by either you or your client it cannot be unfiled.
*QuickBooks MTD software currently supports Standard, Cash and Flat Rate schemes. QuickBooks Bridging Software supports Standard and Cash schemes. Annual submissions are not currently supported but will be coming soon. Businesses whose home currency is not GBP are currently not supported for MTD.