VAT Online: Software FAQs
Sage's VAT expert Suzanne Wardingham answers some frequently asked VAT questions for small businesses.
From April 2010 online VAT filing will be mandatory and all businesses turnover of £100,000 or more will be required to file and pay VAT by electronic methods. It will also affect all businesses (irrespective of size) that register for VAT from 1 April.
Q: Will there be any technical software quirks or changes that will affect record keeping?
Continued...
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Businesses using software other than Sage - the impudence!
"If businesses are using software other than Sage, it is worth finding out whether their providers are operating a similar support service"
I have to say that we would find it difficult to offer a support service similar to that offered by Sage - our users have much higher expectations.
Otherwise great point Suzanne. One of the strengths of providing accounting online to businesses is that we can be proactive in our support of online filers, often letting clients know of problems with their submission and how to resolve them before the client has made contact with us. This is because filing takes place from our centrally managed queues and we have full visibility of the process.
Another question businesses should ask is how the supplier deals with HMRC changes to online filing requirements.
HMRC changed the format of VAT filing XML in November '09 and January '10. As an online supplier we had the required updates in place and transparently available to users on the day they were needed without any need to download and install updates.
You also say you have had online filing capabilities in Sage software for 3 years - does that mean it was released into the marketplace before you had been through the HMRC recognition testing process?
Alan Wright
Accounting Software Online from Liberty Accounts