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MTD Compliant software

Recommendations for multi business software

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Apologies if this has been asked before.

All my clients rely on me to do their bookkeeping, which I don't mind. My current software has unlimited business accounts but it seems unlikely it will become compliant for MTD.

Can anyone recommend a multi business software which will be compliant?

Replies (14)

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By Pavithira
27th Nov 2018 05:46

Hi @moboffsol,

You can try Zoho Books (https://www.zoho.eu/uk/books/), an online multi-user/multi-businesses accounting software that's MTD ready. Zoho Books is also listed in HMRC's list of software providers supporting MTD.
Feel free to reach out to [email protected] to schedule a demo with us.
Looking forward to have you onboard:)

Best Regards,
Pavithira

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By moboffsol
27th Nov 2018 08:04

Thank you I'll have a look

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By ireallyshouldknowthisbut
27th Nov 2018 09:04

What do you mean by "compliant"?

Pretty much everything is compliant when used with bridging software to ping the return in, so long as its not "pen and paper"

The main issue is how bothered you are about the unpoliceable "digital link" and how many knots you are going to tie yourself up in there.

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By moboffsol
27th Nov 2018 11:42

So am I correct in thinking I can just punch the figures into a bridging programme to submit vat returns?
I was under the impression the return was to be sent direct from the accounting programme showing the individual transactions if need be.
(I haven't had time to look into it properly to be honest but it is on my long to do list)

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Replying to moboffsol:
By Tim Vane
27th Nov 2018 12:10

No you can't "punch the figures" in, but you can use bridging software with most bookkeeping programs.

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Replying to Tim Vane:
Routemaster image
By tom123
27th Nov 2018 12:20

You could punch the figures into 8 boxes on a blank Excel page and "bridge" from that.

(devils advocate)

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Replying to tom123:
By ireallyshouldknowthisbut
27th Nov 2018 13:01

You *can* just punch in the numbers in terms of being able to do so.

Its only HMRC and the legislation that says you cant

There are no penalties however at least until April 2020

And HMRC have little way of knowing if you keyed it or not unless they start standing behind people while they work, so it seems unenforceable to me.

The only data being filed is as you file now.

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Replying to ireallyshouldknowthisbut:
Tornado
By Tornado
27th Nov 2018 13:28

No Accountant would do this, but there may be hundreds of thousands of unrepresented businesses that will!

Great for Accountants as HMRC are going to spend a large part of their time trying to police this ..... and what for. It is unlikely to make any difference to the tax gap, but the cost of HMRC administration will soar. (If they can actually deal with it at the same time as the extensive and complex Brexit changes).

What a bunch of clowns. Just make MTD for VAT voluntary and let it evolve naturally over a period of time as more people join in when they are ready.

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Replying to Tornado:
By ireallyshouldknowthisbut
27th Nov 2018 14:25

@tornado, why would HMRC try and police this? There are no chances to fines and no tax loss.

Cant see they would be very interested in issuing advisory notices.

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By David Gordon FCCA
29th Nov 2018 13:01

I prepare a few small companies' VAT. I use Digita Accounts Production set up with quarterly ac periods. So, each quarter I get a transaction based TB. It is then the work of maybe fifteen minutes to transfer the ac totals to the HMRC VAT return program. At the year end, I consolidate the four quarters, and transfer the totals to my main acs program. Takes at most one hour. I then do any final journals, and the program computes the formats needed to file with HMRC, Co Hse, et all. It works reliably because I chopped the work into digestible pieces.
What HMRC and the computer nerds have done is try to create an all singing all dancing system, but for use by either non-bookkeepers and or non-computer literate persons.
Cannot be done.
Pete the plumber and Bob the Builder may earn more than me, but it ain't through punching computer keyboards.
You do not ask a horse to climb trees.
AW reported that X software house had sold 300,000 copies of "Compliant" software. Without any public evidence of a single program working in real time with real numbers.
Bald barber selling hair restorer springs to mind. My rule is never buy new software until the third updated version comes out.

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Pile of Stones
By Beach Accountancy
29th Nov 2018 18:33

Depending on volume, Quickfile is either free or cheap. Not true multi-company, but possible to set up lots of companies based on clients' e-mail addresses. downside is separate logins.

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By senthil1991
03rd Dec 2018 09:29

Hi moboffsol

Are you looking out for a change in accounting software? or are you looking out for bridging software to bridge from your current system?

There are multiple bridging softwares available, which help in the last leg for being MTD compliant.

Let me know if you would need any assistance in identifying a solution.

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By Guilford Accounting
05th Dec 2018 10:32

VT Transaction+ is the ideal solution for this. Inexpensive, easy to use and with an MTD link for filing VAT returns.

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Hallerud at Easter
By DJKL
05th Dec 2018 11:27

TaxCalc is offering a cheap piece of bridging software re Excel, 12 clients for £75 (I do not do vat re 12 clients so for me this may work) though not much use bridging from other software and Excel still has difficulty being kept in an MTD compliant manner re detailed records.

p.s. have not used it yet, still humming and hawing about packing all this to avoid MTD and becoming a lumberjack.

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