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Making Tax Digital | VAT Registered
Making Tax DigitalEasy
HMRC’s new Making Tax Digital rules mean most VAT-registered businesses with a taxable turnover above £85k must keep digital records and submit VAT returns using HMRC-recognised software. For an easy experience, do it all with QuickBooks.
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Two ways to be ready for MTD
Need to follow the new Making Tax Digital rules? QuickBooks offers two options, so you can be confident we’ve got you covered.
Use your spreadsheets and our Bridging Software
Upload your 9 box summary to QuickBooks, then submit directly online to HMRC. That’s all there is to it.
Record, track and file your VAT with QuickBooks
Transfer all of your accounting data into QuickBooks for easy automatic VAT tracking and calculation. Then submit your VAT return directly to HMRC.
Supporting small businesses at every stage
Choose QuickBooks as your Making Tax Digital solution and you’ll get software that’s constantly updated. You’ll also have access to free, award-winning support whenever you need it.
Let SmartScan™ check your VAT
Our clever tech spots common errors, duplicates and anomalies in your VAT. Run SmartScan™ at any time and be more confident when you submit your VAT to HMRC through QuickBooks.
"A great way of summarising everything that goes into the return without having to review everything for the quarter."Tom Ridgway, Wyvern 3D Ltd
"Our first MTD VAT return with QuickBooks and it worked a treat - excellent!"Olivia, Belfast Bookkeeping Services
"Unbelievably simple. I have never submitted any Making Tax Digital for VAT return ever before but I honestly couldn’t believe how easy it was. Few mouse clicks and it was all over. Shouldn’t have worried!"Nick, AutoAudio
"Very helpful service, makes it easy for us to understand the VAT process"Rodrigo, Art Cargo
There's a plan whatever your business needs
Need multiple accounts? Call us on 0808 168 4246.
Making Tax Digital information for businesses
Making Tax Digital - Helping you prepare
Get ready for Making Tax Digital in five steps
Making Tax Digital VAT: are there exemptions?
Making Tax Digital software – why you need to ditch the spreadsheets
Making Tax Digital with QuickBooks
Making Tax Digital – top tips for landlords
The penalties for not complying with Making Tax Digital regulations
What is Making Tax Digital?
Frequently asked questions
Why is Making Tax Digital happening?
Making Tax Digital is HMRC’s attempt to transform the UK tax system into one of the most digitally advanced in the world for the benefit of individual and business tax payers.There are four main benefits:
- Digitalisation will improve the quality of record keeping.
- Less manual entry should mean fewer errors.
- Managing business affairs will become more efficient - especially if you adopt a cloud-based solution which can be accessed anywhere.
- You'll spend less time gathering and inputting data
When did Making Tax digital start?
Making Tax Digital came into effect on 1 April 2019. Any VAT returns starting on or after this date must follow the Making Tax Digital rules.
Who does Making Tax Digital for VAT impact?
It impacts VAT registered businesses with a taxable turnover above the VAT threshold (currently £85,000) in the 12 months leading up to 1 April 2019 or any 12 month period thereafter.
What do I need to do to comply with the new Making Tax Digital rules?
To comply with Making Tax Digital for VAT you will need to do all of the following:
- Keep your VAT records digitally
- Submit your VAT return to HMRC through MTD compliant software.
You must also do the following by 1 April 2020
Digitally link software you use for VAT preparation and filing if you use more than one software solution.
My VAT returns are already submitted online, am I not already compliant?
Unless your VAT returns are being submitted through software that has been approved by HMRC as being Making Tax Digital compliant then you are not already compliant. As of 1 April 2019, the HMRC web page used by businesses and their accountants to submit VAT returns has been closed to those required to comply with Making Tax Digital
Where do I get Making Tax Digital (MTD) software?
A list is available on GOV.UK or you can try QuickBooks today. HMRC are not offering Making Tax Digital software.
How can my accountant help me with Making Tax Digital?
Accountants can support you through Making Tax Digital so long as they have the following:
- Permission from you to act as an agent on your behalf for VAT
- Registered for an Agent Services Account and linked your HMRC account to it.
- Access to Making Tax Digital compliant software.
Why should I consider using QuickBooks as my Making Tax Digital for VAT software?
As a QuickBooks user you’ll be MTD ready from day one and a customer of the worlds #1 provider of accounting software. By using QuickBooks you’ll be keeping digital records. You can also prepare and directly submit VAT returns to HMRC today and when Making Tax Digital arrives you will be compliant. For most businesses, QuickBooks is an all in one Making Tax Digital software solution without the need for digital links. If your business intends to take advantage of the Making Tax Digital soft landing period then QuickBooks can be used as bridging software to submit your VAT return data that has been prepared elsewhere.
Which VAT schemes are supported by QuickBooks for Making Tax Digital (MTD)?
QuickBooks is committed to delivering a best-in-class experience for individuals and organisations that submit tax digitally. As part of this we’re always looking for ways to support more of our customers with complex business needs, so we provide a variety of solutions within QuickBooks itself.
The following VAT for MTD schemes are supported for small businesses and accountants: Standard, Cash, Flat Rate.
Within all these schemes, both monthly and quarterly VAT submissions are supported. We’re working to extend this to support annual submissions.
Alternatively, QuickBooks users who prefer to maintain some or all of their financial records outside QuickBooks can stay MTD compliant by submitting their VAT with QuickBooks’ Bridging Software feature. This feature supports the following schemes: Standard, Cash schemes.
* If you select the Free Trial option the first thirty (30) days subscription to QuickBooks, starting from the date of enrolment, is free. To continue using QuickBooks after your 30-day trial, you'll be asked to present a valid credit card for authorisation, and you'll be charged the then current fee for the service(s) you've selected. All prices shown exclude VAT. Offer(s) are valid for new QuickBooks customers only and available for a limited time. Offer cannot be combined with any other QuickBooks Online offers. Terms, conditions, features, pricing, service and support are subject to change without notice.
QuickBooks Making Tax Digital for VAT software is available to all QuickBooks Simple Start, Essential and Plus subscribers. Use of QuickBooks MTD for VAT software and bridging software must be aligned with HMRC's eligibility requirements and includes additional set up between the small business and HMRC.
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.
Receive a 50% discount off the current monthly price for QuickBooks Online Simple Start or 50% discount off the current monthly price for QuickBooks Online Essentials or 50% discount off the current monthly price for QuickBooks Online Plus for the first 6 months of service, starting from date of enrolment, followed by the then current monthly price. Your account will automatically be charged on a monthly basis until you cancel. You must select the Buy Now option and will not receive a 30-day trial. Offer valid for new QuickBooks Online customers only. No limit on the number of subscriptions ordered. You can cancel at any time by calling 0808 168 9533. Discount cannot be combined with any other QuickBooks Online offers, such as the Movemybooks service. Terms, conditions, features, pricing, service and support are subject to change without notice. All prices shown exclude VAT.
Receive a 50% discount off the current monthly subscription price for the first 6 months of service starting from the date you subscribe for the service. In order to obtain the discount you need to select the Buy Now option and will not receive the free 30 days trial offer. After the first 6 months, your account will be charged on a monthly basis at the then current price until you cancel. The above discount offer is available only to new QuickBooks Self-Employed customers and cannot be combined with any other QuickBooks Online offers.
1QuickBooks Online Advanced Payroll introductory offer will end at 23:59 on 15th November 2019. Receive QuickBooks Online Advanced Payroll for £1 per paid employee per month until the 5th April 2020, starting from the date of signup. Your account will automatically be charged on a monthly basis for all payruns processed in the previous month. Offer available to all customers with an active subscription QuickBooks Simple Start, Essentials or Plus who sign up to QuickBooks Online Advanced Payroll before the offer end date on 15th November 2019. After the 5th April 2020, your account will be charged on a monthly basis at a rate of £8/ month subscription fee + £1 per paid employee per month until you cancel. Terms, conditions, features, pricing, service and support are subject to change without notice.
2QuickBooks Advanced Payroll allows you to automatically submit information to the following pension providers: NEST, The Peoples Pension, Smart Pensions, Aviva and NOW:Pensions
3Mileage tracking is available on QuickBooks Self-Employed Android and iOS and the QuickBooks Online App on iOS
These terms apply to QuickBooks UK customers only. Bulk-pricing discount offer is valid only if you are signing up for more than one QuickBooks Online subscription with each order. View terms and conditions for multiple accounts pricing here. To inquire further about the bulk-pricing discount offer, please call 0808 168 4246.
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'75% of QuickBooks Online users say working with an accountant makes their businesses run better'; Based on Intuit US customer survey 2016.