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Want to know the latest on VT and MTD?

Latest statement from VT on MTD

We will not be implementing MTD directly into VT Transaction+ and VT Cash Book; however, we have already implemented an MTD export feature in the current version to enable the filing of VAT returns via third party software. A number of such third party packages are in development and we anticipate that by April 2019 you will be able to submit your VT VAT returns using this method. We will email you again as soon as these are operational.

Doesn't this suggest there is no need to jump ship? Well it might if the pricing was mentioned.

 

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By Matrix
14th Jun 2018 16:08

Yes I saw that and it doesn't tell us anything new but I agree it doesn't mention pricing. I have clients who have downloaded VTT+ and use it without paying an annual fee.

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14th Jun 2018 16:40

Pass along please.

Nothing to see here - yet.

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to lionofludesch
14th Jun 2018 16:44

lionofludesch wrote:

Pass along please.

Nothing to see here - yet.

Better to know there is nothing to see than not know there is nothing to see.

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to andy.partridge
14th Jun 2018 16:51

Absolutely.

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14th Jun 2018 16:42

As is said above the MTD export feature is already there without any further charge by VT.

We'll only be looking therefore at the cost of the bridging software.

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14th Jun 2018 16:51

Why so negative? VT+ is just brilliant, far speedier than other products. If (and I accept that is a big if) there will be 3rd party products to enable VT+ to be used after MTD for VAT, I will be very happy

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to Jo Nokes
14th Jun 2018 17:00

I don't think many disagree with you.

The real question, though, is how much will you be prepared to pay for 3rd party products before your smile fades and is replaced by a grimace?

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to andy.partridge
14th Jun 2018 18:59

Good point, but the answer is quite a lot if I don't have to suffer with QBO. Seriously, my hope is that once the actual specifics are decided on by HMRC, VT will have a change of heart, and issue a filing bridging add on. Is that too much to hope for!

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to Jo Nokes
14th Jun 2018 17:02

Who's negative ?

We just want reassuring that we'll be grand.

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By Matrix
to Jo Nokes
14th Jun 2018 17:54

I love VT but HMRC has not written to any of my clients so I am bridging the gap by looking for solutions so my clients can stay on VT.

I have told my clients about Neilson James which is £40 a year. I don't know if VT also charge for using their button.

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to Matrix
14th Jun 2018 23:15

Matrix wrote:

I love VT but HMRC has not written to any of my clients so I am bridging the gap by looking for solutions so my clients can stay on VT.

I have told my clients about Neilson James which is £40 a year. I don't know if VT also charge for using their button.

The James Neilson price is £40 for a standalone customer but the prices for bookkeepers and accountants will be on a tiered scale. I think the lowest is up to 10 clients @ £80 per year. Thats not bad at all.

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By Matrix
to legerman
15th Jun 2018 06:50

Yes I think both are reasonable. Per above I am looking for solutions for my clients (they file their own VAT returns) so have advised that it would be £40. I only file one VAT return prepared in VT so will go for that plan too.

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14th Jun 2018 17:40

As for prices FREE for BTC Solution Suite users :)
https://www.btcsoftware.co.uk/mtd-for-vat-software/

£250 as a standalone for others. Demo video shows it links to Excel, FreeAgent, Iris, Kashflow, QuickBooks (Desktop), QuickBooks (Online), ReckonOne, Sage, VT, Xero.

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14th Jun 2018 18:08

Seems to me this is just like iXBRL, you can prepare with one product and file it with another.

We use VT to prepare our iXBRL file and fling it at HMRC to be ignored with either tax filer or tax calc.

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14th Jun 2018 19:38

People still use VT!?

Anything that is not cloud based in some manner is surely going to struggle due to its lack of flexibility.

I do get it as we use payroll manager still (hosted on a virtual desktop to make it accessible from anywhere) but feel that surely VTs days are numbered and at best is an old school legacy software that will hang on for as long as it can to stay relevant .

It’s cheap , it’s cheeful but it’s not future proof .

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By Matrix
to stevo5678
14th Jun 2018 21:52

I find VT much faster than cloud software.

The only downside of desktop software is version control.

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to stevo5678
14th Jun 2018 22:06

stevo5678 wrote:

People still use VT!?

Anything that is not cloud based in some manner is surely going to struggle due to its lack of flexibility.

Yes, yes, in these days of GDPR and daily hacking scares let's put all our information on some server in Uzbhekhistan.

You have your head in the clouds. There's still a place for desktop software - cloud software is only ever going to be efficient where the client wants to be part of the digital process.

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to stevo5678
14th Jun 2018 22:26

stevo5678 wrote:

People still use VT!?

Anything that is not cloud based in some manner is surely going to struggle due to its lack of flexibility.

I do get it as we use payroll manager still (hosted on a virtual desktop to make it accessible from anywhere) but feel that surely VTs days are numbered and at best is an old school legacy software that will hang on for as long as it can to stay relevant .

It’s cheap , it’s cheeful but it’s not future proof .


Yes, that is exactly what I wrote in another post! VT is written in Basics( VB). Even the owner of VB- Microsoft is ditching it. JavaScript and Python rule the cloud world.
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to Cantona1
14th Jun 2018 23:03

Well, it might be written in an older language, but please tell me which cloud offering is easier to use for a practitioner than VT. I don't think there is one

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By ABS2
to stevo5678
15th Jun 2018 16:48

Ah the old (new!) adage that if it's in the cloud it must be great!

People's attitude to the cloud remind me of the teenage kid character on The Fast Show who thought things were brilliant.

And for the record I do use it for some aspects, for bookkeeping I've found nothing quicker than what's on my desktop

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to ABS2
15th Jun 2018 17:01

If the client is going to present me with the traditional carrier bag, why do I need the cloud ?

Sure - if the client writes up his books and I tart them up for the taxman, the cloud's great. But that's not what most of my clients want.

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to lionofludesch
15th Jun 2018 17:45

'Tart them up'?
Wow, you've got some classy clients. This is for the enquiry meeting, right?

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to andy.partridge
15th Jun 2018 17:55

andy.partridge wrote:

'Tart them up'?
Wow, you've got some classy clients. This is for the enquiry meeting, right?

Nope.

Don't have anyone using the cloud at the moment.

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By Tornado
15th Jun 2018 10:56

I use VT Final Accounts and it is brilliant.

I have no need to use VT Transaction, but it does get great reviews and is much liked by those that use it.

I have used cloud software for several years, but I am not convinced that it is the answer. In particular, it can often be very slow to use (in comparison to desktop based programs).

The best compromise seems to be desktop based programs with auto back up to remote storage. This works brilliantly with TaxCalc and means that access from a variety of devices is perfectly possible as up-to-date data is always stored in the 'cloud' as well as on the devices.

My concern about VT is that there is no promise of making VT Transaction MTD compatible so whilst there is a solution for MTD submission of VAT Returns, inevitably the program will not be compatible with MTD in general when this is eventually introduced.

I am not sure why VT Transaction cannot be adapted to be MTD Compatible but I feel sure that VT would be able to produce a first class Book-Keeping suite (perhaps Excel based) if they could be incentivised to do so.

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