Hi,
I have a client who is currenty using a desktop version of Quickbooks. Having spoken with Quickbooks, in order to continue using the software and submit MTD VAT compliant returns directly from the software, my client will need to upgrade her software to the latest version, which will costs them £26 per month. My client was quite astonished at this cost, given they have only paid an outright fee for the software a few years ago. Quickbooks no longer offer an outright purchase, and only have a monthly fee option. We are now looking at other alternatives with regards to bridging software (and alternative accounting packages), which are much cheaper options. So for the bridging options, I have been looking at:
- MTDfVAT, which is £50 per annum, cloud based and looks extremely easy to use.
- MTD express, at £40 per annum, and appears to be quite similar to MTDfVAT
- Vitaltax, which is free for the first year, then £1 per month thereafter. This is an excel addon, and again looks easy to use.
Does anyone have any experience with any pilots of any of the above and willing to share this?
Many thanks
Replies (4)
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I've not encountered any of these, but QB should be offering you a free data migration for the client onto QBO (which is MTD compliant), and if you join as an Accountant partner, and recharge the subscription cost to the client, it'll be around £5pm, depending on what level you need.
As far as I understand bridging software is just an Elastoplast solution, and won't be compliant in 12 months anyway, unless HMRC changes plans - whereas QBO would be a permanent fix.
Just my thoughts :)
Bridging software (and there are more than 57 varieties at the moment) will be compliant post April 2020 as long as people implement the digital links properly.
As an accountant, I use BTCHub and think it's great. But I have recommended MTDfVAT for a lot of my clients, and they have only good things to say.
Thanks for the comments everyone.
As far as I am aware you will be able to continue using spreadsheets providing they are digitally linked and not manually linked. Many of the bridging software options work by uploading a copy of the VAT return report, and then submit this electronically, and therefore I believe this will cover the digital links, as the software will automatically recognise the report and submit the relevant information and hence no manual inputting.
Thanks again