Bridging software for MTD for VAT, BTC have some
Making Tax Digital bridging software is available – thanks to BTCSoftware
Contrary to some reports in the accountancy press, BTCSoftware can confirm bridging software to ease Making Tax Digital for VAT compliance is very much a reality and available.
In May, BTCSoftware demonstrated their MTD for VAT solution at Accountex. In fact, visitors to BTCSoftware’s stand were amazed at just how simple and quick the software was to use.
A key point of relief for many was that, with BTCSoftware’s solution, accountants can still use their beloved VAT-related spreadsheets for MTD for VAT compliance. This is because the software developer’s MTD VAT Solution:
- Enables accountants to keep their VAT data in their existing and even multiple spreadsheets – irrespective of how those are set up and what spreadsheet software they use.
- Draws the data in digitally from the spreadsheet into an MTD for VAT friendly format for submission to HMRC.
- Validates and submits the VAT data in an MTD-compliant format to HMRC at the touch of a button.
BTCSoftware’s solution doesn’t require VAT-related data in the spreadsheet to be in a contiguous block of cells. It easily draws in data from multiple worksheets in the same workbook which are linked to a summarised table, for example if the user likes to store several VAT returns in one single workbook. The process typically takes just over a minute and you can see a video of the tool in action at https://www.btcsoftware.co.uk/mtd-for-vat-software/
Additional time-saving features
BTCSoftware’s Solution also provides a window view of a client’s MTD VAT payments, liabilities and refund history, in addition to their history of MTD VAT submissions. Furthermore, it provides a quick online agent-client authorisation process with HMRC replacing (for MTD VAT only) the old 64-8 forms which HMRC are still developing.
In July, BTCSoftware was one of the few software developers announced by HMRC as having MTD for VAT-friendly software. This showed the software developer had demonstrated a prototype of its software to HMRC and had tested its products successfully in HMRC’s test environment.
Easy and affordable
BTCSoftware’s MTD Solution is cloud-based and can be purchased as a standalone product for £250 (+VAT) for an annual licence. It also comes free with BTCSoftware’s Solution Suite for Cloud users. Taking just a matter of minutes to set up, subscribers gain unlimited free support from the company’s friendly UK-based team.
For more information contact BTCSoftware’s sales team at [email protected] or call 0345 241 5030.
This blog is taken from the ICPA website. Dedicated to supporting and promoting the needs of the general practitioner. You can find us at www.icpa.org.uk or email [email protected] or by phone on 0800-074-2896.