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VAT MTD excel

DO ou have to sign up to a software provider or will excel suffice

Didn't find your answer?

Hi,

Can you use just simple excel to record all your transactions and then upload that directly into HMRC MTD platform or does it have to be via a platform such as quickbooks etc.

Thanks

 

Replies (24)

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By AWeb72
06th Sep 2020 14:37

You can use Excel to record, but then need bridging software to provide a link between that and HMRCs system

Thanks (1)
Routemaster image
By tom123
06th Sep 2020 15:44

There are free products you can use.

I am currently using taxoptimiser.

I export my system VAT return and then map and import the csv file.

Thanks (2)
Replying to tom123:
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By Anonymous.
06th Sep 2020 16:52

tom123 wrote:

There are free products you can use.

I am currently using taxoptimiser.

I export my system VAT return and then map and import the csv file.

Interesting! The website says "free for individual organisations for first year".

It's a very small and new business. Not sure what data is involved but I think I'd be slightly nervous about data security. (Probably illogical given some of the issue huge companies have had with client data!)

I think it's very poor not to provide a free HMRC basic version.

Thanks (2)
Replying to Anonymous.:
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By Paul Crowley
06th Sep 2020 20:32

Bridging prices bounce all over.
One we used and were happy with at start recently hiked 4 fold

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Replying to Paul Crowley:
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By WhichTyler
07th Sep 2020 16:25

PWC is £90 (per VAT registration) and free to charities

https://www.pwc.co.uk/ux23/products-and-services/pwc-making-tax-digital-...

Thanks (1)
Replying to WhichTyler:
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By lh3f9764bg1g
10th Sep 2020 10:38

Phew! That sounds pricey!

Thanks (0)
ALISK
By atleastisoundknowledgable...
06th Sep 2020 21:53

We use vitaltax.uk , albeit l only for 2 or 3 clients.

Thanks (1)
Replying to atleastisoundknowledgable...:
ALISK
By atleastisoundknowledgable...
10th Sep 2020 12:08

We have the unlimited client licences (£120pa). It's an Excel add-in rather than its own software, so we set-up all mtd clients on it and can take easy screenshots of balances etc when we do the YE accounts, which works really well.

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By Cheshire
07th Sep 2020 15:50

insolventnl wrote:

Hi,

Can you use just simple excel to record all your transactions and then upload that directly into HMRC MTD platform or does it have to be via a platform such as quickbooks etc.

Thanks

 

''then upload that directly into HMRC MTD platform'' - how does that work? what platform?

Thanks (0)
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By Nicky Richards
10th Sep 2020 10:42

I use Easy MTD VAT and it's super easy and cheap.

Thanks (1)
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By Hyprosteps
10th Sep 2020 11:14

I also use MTD for VAT. Cheapest I found and easy to use.

Thanks (1)
SamPayne
By SamPayne
10th Sep 2020 11:20

You are partially right, you can use Excel, but you need to use a MTD bridging software. We use BTCHub, which has telephone support included. We found it very quick and easy to use.

Thanks (1)
BirdnCo
By BirdnCo
10th Sep 2020 11:46

We use Absolute Accounting Software cost £40 for 10 licences. We have only used this for clients who keep their records on a spreadsheet and works perfectly.

Thanks (2)
Replying to BirdnCo:
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By NewACA
10th Sep 2020 13:37

I've heard it only provides basic features, to just file a VAT Return, is that right? Others (eg: 123 sheets Ltd, but others as well like BTC), offer up-to-date info on VAT liabilities outstanding from HMRC's records, shows up-to-date data on what HMRC has for historic returns, it allows deadline management of VAT returns due across the client base etc.

Is Absolute just return filing only software?

Thanks (0)
Replying to NewACA:
Morph
By kevinringer
10th Sep 2020 13:45

Absolute is filing only. It does not retrieve any liability data, historic returns etc.

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Replying to kevinringer:
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By vbanthorpe
10th Sep 2020 16:09

kevinringer wrote:

Absolute is filing only. It does not retrieve any liability data, historic returns etc.

I understand Absolute’s Excel VAT Filer is currently being updated. They will be launching a new client portal soon which will enable users to look at all historic submissions made as well as receipts received from HMRC. They recently added a ‘Knowledge Base’ into the software, which tells users how to fix rejected VAT returns from HMRC.

Thanks (2)
Replying to vbanthorpe:
Morph
By kevinringer
10th Sep 2020 16:17

Thanks vbanthorpe, that's good news

Thanks (0)
Pile of Stones
By Beach Accountancy
10th Sep 2020 12:43

I use 100pc Vat Free Bridge (http://www.comsci.co.uk/100PcVatFreeBridge.html)

Genuinely free - you can make a donation if you want.

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Replying to Beach Accountancy:
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By comsci
12th Sep 2020 10:07

Thanks for the recommendation. As the 100PcVatFreeBridge Author, I'm obviously biased, but currently have ~ 1000 very happy users. It is free with an optional donation to a charitable cause. Currently supporting my son's postponed humanitarian adventure to Malawi with 1st Poulner Scouts. Currently have raised an incredible ~£8000 because of the App. Thank-you to all who have donated.

It will read your linked Excel or CSV file directly and submit the return, so provided that your data is automatically generated will be digital link compliant for the future.

It offers offer up-to-date info on VAT obligations, liabilities and historic returns.

It will inform you if the MTD service is down for scheduled maintenance. E.g. this weekend. (Many other services don't because HMRC do not provide a REST endpoint with this information)

It's not a cloud solution, so your data remains on your PC until transmitted directly to HMRC via a secure link.

There's no tie in. In fact there's nothing to stop you having multiple different solutions for MTD VAT all registered at the same time.

Thanks (2)
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By vbanthorpe
10th Sep 2020 13:21

It's already been mentioned on this thread, but do check out Absolute Software's 'Excel VAT Filer'. It is bridging software which will enable you to keep using Excel by digitally linking to HMRC's MTD platform. It is £40+VAT for 10 traders and for a 13 month licence. The price has been the same since they launched it in 2018 and they have no plans to increase it. Plus, it is already compliant with the MTD changes which will come into effect at the end of the soft landing period in 2021. According to agents and business users, it is very easy to install and use. See https://www.absoluteexcelvatfiler.co.uk/

Thanks (0)
Morph
By kevinringer
10th Sep 2020 13:24

We use Absolute http://www.absoluteexcelvatfiler.co.uk/ £40 for 10 clients for 13 months. We're using it for hundreds of clients. Absolute also supply single user licences for businesses. It works with any Excel spreadsheet. I use Excel 2010. You can link each VAT return box to individual cells in your spreadsheet. We've built a template that links all cells in a single click.

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By JD
10th Sep 2020 13:56

DataDear offer a free option, if filing directly with HMRC

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By markabacus
11th Sep 2020 10:20

Another vote for Absolute's VatFiler. Works fine for our clients and linking it directly into our own bespoke MTD complient spreadsheet that records all transactions was simple

Thanks (0)
Easy MTD VAT
By EasyMTDVAT
21st Sep 2020 09:55

Late to the game but I'll chip in anyway... Easy MTD VAT (https://easymtdvat.com) is bridging software designed for VAT figures stored in Excel. The first submission is free (you'll be gifted a submission token when you sign up for an account), then the cost per submission starts from just £0.99.

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