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Excel question in regards to MTD VAT

Excel novice-how do you exclude the items that aren't relevant to the VAT return e.g drawings wages

Hi so after a lot of stress and dilema I think I will move manual VAt clients to a simple excel spreadsheet and use a bridging product like absolutes excel filer to comply with MTD for VAT. I'm an excel novice and was just wondering how I would exclude certain transactions (such as drawings, road tax, wages etc) from the spreadsheet for the VAT return? As there has to be a digital link and no copy and paste etc, would it work if items that were not relevant to the VAT return were kept on a separate sheet of the spreadsheet and therefore those figures didn't come in to play at all? I hope that makes sense? Many thanks for the help.

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By Matrix
19th Oct 2018 13:45

MTD should not change anything. You are still including the same transactions as before in each box on the VAT return so put columns for each box on your spreadsheet maybe and link the totals to the bridging software.

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By JKnight
19th Oct 2018 13:50

If you're an Excel novice why not move the manual clients to bookkeeping package that will handle the VAT returns and MTD ?

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19th Oct 2018 14:00

Put simply- money. My clients are all small businesses that are cash strapped and mostly already have excel so this seems the most logical way forward. Most keep simple manual records, not double entry and this seems to be the closest alternative for MTD. I have also looked at simple packages like clear books and will be moving one or two of the vat clients to this as an alternative. I can do basic formulas on excel so hoping that will suffice! Any suggestions or things I may have over looked though gratefully received!

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to puds2015
19th Oct 2018 14:44

Hi Puds2015,

We're very excited to learn you're bringing some clients over to Clear Books! If you need any help communicating with the clients, we have been creating emails for accountants to help inform clients of the change and the costs. Feel free to reach out to us if you'd like some communications help as you get ready for MTD.

Kind regards,
Karina
Clear Books Marketing Team

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By GW
19th Oct 2018 14:09

While I'm not convinced "copy and paste" should be a digital link, unless I've missed something, the documents from HMRC say no "cut and paste" and do not refer to "copy and paste"

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By jcace
to GW
19th Oct 2018 15:25

Copy/cut and paste are not digital links, but will be permitted for the first year as part of the soft landing approach.

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By Matrix
19th Oct 2018 15:14

I don't know how they can run a business without double entry - maybe these are the businesses who will benefit from MTD (and I am the biggest MTD sceptic).

Try QuickFile. Honestly you would save so much time using a proper bookkeeping package.

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By Lisa R
19th Oct 2018 15:22

This might give us all a bit more time to work it all out?

VAT Notice 700/22: Making Tax Digital for VAT
3.2.1.1 Soft landing regarding digital links requirements

“For the first year of mandation (VAT periods commencing between 1 April 2019 and 31 March 2020), where a digital link has not been established between software programs, HMRC will accept the use of cut and paste as being a digital link for these VAT periods.”

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By jcace
20th Oct 2018 00:09

Puds, the only information to be submitted to HMRC under MTD for VAT, will be the same nine boxes that are currently submitted. As long as your excel workbook can produce the relevant figures, it should be quite straightforward to therefore exclude non-VAT transactions such as wages, drawings etc.

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09th Nov 2018 17:15

Simple...I presume you keep the Excel in a list, so just use filter at the heading of the vat column and exclude blanks.

Then outline the remaining transactions, copy and paste values to a new spreadsheet in the same workbook, and use that to submit to HMRC.

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to iain.mcgregor
09th Nov 2018 17:17

let me know how you get on

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