QuickBooks announces MTD pilots and tools to make tax easy

London, UK - 19 December 2018

Intuit QuickBooks today opens two MTD for VAT software Pilots^[1] and launches tools to help make tax easier for accounting professionals. The MTD for VAT Pilot is open in QuickBooks^[2] for accounting professionals that want to get ahead of the April deadline. The Bridging Software Private Pilot is open in QuickBooks^[3] to help those with clients that want to use spreadsheets to file. And to make the transition easy, QuickBooks has launched tools to help segment and communicate changes to clients.

Public MTD pilot

QuickBooks has been running a Private MTD for VAT Pilot with accountant partners and HMRC since May. The aim was to understand and solve pain points in order to make QuickBooks’ MTD software easy and fast to use. The leading insight from the Private Pilot was that accounting professionals wanted access to MTD for VAT software before small businesses, to give time to fully understand the software and process.

As a result, the QuickBooks MTD for VAT Pilot is open for all accounting professionals^[4]. Accountants taking part in the pilot can now try this new MTD functionality in QuickBooks Online Accountant and set up and file eligible clients’ books in compliance with HMRC’s MTD for VAT.

Charlotte Ing, Manager at Sagars said “MTD is a significant moment for our practice. We wanted to get ahead by signing up for QuickBooks’ Private Pilot and also serve as a testbed to help the industry understand and navigate the change. Having filed easily and compliantly, we have confidence that QuickBooks customers will be supported through the change and would encourage practices to embrace MTD by signing up for the Public Pilot.”

All QBOA customers will have access to the MTD pilot in product. Accounting professionals who are not yet QBOA customers can sign up here.

Private Bridging Software pilot

Bridging Software helps businesses that are not ready to move to the cloud, or work within a complex VAT scheme, by enabling them to use spreadsheets to compliantly file their VAT through QuickBooks. For small business customers using spreadsheets, the process remains easy and familiar, while adhering to HMRC’s compliance rules.

As a result, QuickBooks Bridging Software will be available for all eligible clients in April, and all QuickBooks Online Accountant users can now register interest for the MTD Bridging Software Private Pilot.

Emma Chesson, Head of Online Services at Kreston Reeves said “We have a number of clients that will be eligible for MTD for VAT but not all will be prepared to file immediately within software. Enabling them to use Bridging Software is important for us, as it gives us time to continue to demonstrate the benefits of cloud-based financial management software while remaining compliant.”

Tools to make MTD easy

To support easy transition to MTD, QuickBooks has also launched a suite of tools in QBOA.

The Client Analysis tool assists accountants in identifying which of their clients are VAT registered and when they need to be moved to MTD compliant software. The MyMarketing Portal helps accountants communicate the MTD for VAT changes to clients through ready-made marketing campaigns.

Finally, to help accounting professionals quickly move existing client data from spreadsheets and other software into QuickBooks, it is now possible to import existing bills and invoices.

Shaun Shirazian, Head of Product at QuickBooks UK said: “We were first to announce compliant filing through our Private Pilot in May. Since, we have been working hard with HMRC, accounting professionals and small businesses to understand how we can make industry leading software that makes the MTD transition and submission easy. We are delighted where we have landed and are excited to open two new pilots that will continue to help us listen, iterate and optimize our product.”

Both the MTD for VAT and Bridging Pilots are included in all QuickBooks Online subscriptions. QBOA users have access to reduced QBO subscription pricing as part of QuickBooks’ ProAdvisor loyalty programme.

Sources

^[1] A QuickBooks pilot allows users to try a product before it is fully live. QuickBooks will collect user feedback during these pilots and use it to improve and enhance the product before April 2019. All pilots are limited based on demand

^[2] Not including QuickBooks Self-Employed

^[3] Not including QuickBooks Self-Employed

^[4] With eligible clients as defined by HMRC https://www.gov.uk/government/publications/making-tax-digital/overview-of-making-tax-digital#making-tax-digital-for-vat

Disclaimer

This information is intended to outline our general product direction, but represents no obligation and should not be relied on in making a purchasing decision. Additional terms, conditions and fees may apply with certain features and functionality. Eligibility criteria may apply. Product offers, features, and functionality are subject to change without notice.

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