BTCSoftware announces MTD for VAT lifeline for VT users
Following VT’s decision not to integrate a Making Tax Digital (MTD) for VAT solution within its products, BTCSoftware has stepped in to offer VT users this functionality.
The solution will enable VT users to continue to use their VT Cashbook and VT Transaction Plus products but comply with MTD for VAT via a digital integration with BTCSoftware’s Solution Suite.
How it will work
VAT data from VT Cashbook and VT Transaction Plus will import into BTCSoftware’s MTD for VAT functionality via the Clipboard from VT.
BTCSoftware’s MTD for VAT Solution is being showcased at this year’s Accountex (almost a year before the MTD for VAT mandation). Amongst other features, it will:
- Enable agents to submit their clients’ VAT returns direct to HMRC in the required MTD format.
- Enable agents to gather historic MTD VAT return data from HMRC and view it. This helps them to see what has been submitted historically, particularly if they have only recently started acting for the client.
- Provide a quick online agent-client authorisation process with HMRC replacing (for MTD VAT only) the old 64-8 forms.
Ensuring MTD for VAT compliance for VT users
Commenting on the development, Paul Oldridge, business development director of BTCSoftware, said “We are very pleased to be able to help existing VT users both continue using their VT products and comply with the forthcoming MTD for VAT legislation.”
He added, “A number of our customers are VT users and they were concerned about having to find alternatives in light of MTD for VAT. This solution will enable them to continue using all of the software they love and trust, and at the same time meet their clients’ compliance obligations.”
A solution for all VT users
The solution is not simply a lifeline for those joint VT and BTCSoftware users. It obviously helps out all VT users who are trying to find ways to comply with MTD for VAT ahead of the April 2019’s mandation date.
Integrations with bookkeeping providers too
In preparing for the showcasing of its MTD for VAT Solution at Accountex in May, BTCSoftware is also working with bookkeeping software providers such as Xero, Quickbooks, FreeAgent and Reckon One. This will ensure BTCSoftware’s MTD for VAT solution will also integrate with these popular products via APIs (as its other software solutions do).
How to find out more
The BTCSoftware team will be demonstrating their MTD for VAT Solution at stand 530 at Accountex on 23-24 May 2018 in London. Alternatively, VT users can contact the team for more information at [email protected] or tel: 0345 241 5030.