MTD link for VTT+ users- now to be built into VTT+

Just announced.

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"We are delighted to announce that our MTD for VAT Solution will enable VT users to continue to use VT and comply with the Making Tax Digital for VAT mandation.  This follows on from VT’s decision not to integrate a Making Tax Digital (MTD) for VAT solution within its products.

https://www.btcsoftware.co.uk/mtd-for-vat-vt-users

Good news!

Replies (5)

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By Tim Vane
01st May 2018 15:47

I think this was announced a couple of weeks ago. It is pretty much as was predicted when VT made the announcement, and I bet all those who dumped VT in panic are feeling very foolish right now! I would expect most of the major suppliers to release similar updates over the next few months.

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By Wanderer
02nd May 2018 04:43

Don't know.

Having said that just looked at the latest version of VTT+ & the VAT return section now has a new MTD Export button.

Clicking this copies the following details to the clipboard:-

Business name ABCD Company Ltd
VAT registration number 123 4567 89
VAT return from date 01/10/17
VAT return to date 31/12/17
Output VAT 1000.00
EC acquisitions VAT 200.00
Total output VAT 1200.00
Input VAT 500.00
Net VAT due 700.00
Total sales 5000.00
Total purchases 2500.00
Total EC sales 0.00
Total EC purchases 1000.00

Wouldn't think it would be too difficult for software vendors to design some sort of input screen to link this with their API.

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By Wanderer
08th Dec 2018 07:18

Bridging software for VTT+. Might not be needed now:-

VT to implement MTD directly
VT will be implementing MTD directly into VT Transaction+ and VT Cash Book. This feature will be available by the time the first quarterly VAT returns need to be filed under MTD in July 2019.

VT bridging product
VT will also be developing an Excel based bridging product for use with VAT groups and other situations where the VAT return cannot be transmitted directly from VT Transaction+.

http://www.vtsoftware.co.uk/mtd/index.htm

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By paulhammett
08th Dec 2018 07:57

Splendid news.

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RLI
By lionofludesch
08th Dec 2018 10:21

Exciting news.

Well, maybe not exciting .......

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