Today you can track all your VAT submissions on Xero, Sage, QBO or any other MTD supplier, in one email or web page and its free.
MTD has been a nuisance for many firms of accountants so far, but it does have the potential of a much greater level of control over the relationship with HMRC than has been the situation to date. Cirrostratus offer that control today - and its free.
“One thing people need to recognise about Digital Tax,” said John Hemming CEO of Cirrostratus,” is that it enables an accountants computer system to talk to HMRC without the accountant having to do anything.”
“For example once a week the system can ask HMRC what is outstanding for VAT or Self Assessment on a number of accounts and then send an email to the accountant with a summary of this information.”
Cirrostratus believe that this level of summary information will help accountants prevent things going wrong and be a key part of practice management. HMRC allow multiple software to be authorised for single accounts. That means that Cirrostratus software can be used to montor accounts that are being managed on another MTD suppliers system such as Quickbooks, Sage or Free Agent.
“Once Self Assessment moves to quarterly,” said John Hemming, “the digital practice management allowed by MTD will be critical. A solid digital tax management system will enable the computer to email the client reminding them of deadlines for information, the system will also then tell management where the problems lie so that additional resources can be allocated where necessary. These problems will be identified before people have missed deadlines. There will always be some problem with people working to the deadline (or a few days afterwards), but it becomes possible to use technology to move those accounts that can be moved forward from the deadline.”
“Today Cirrostratus offer a simple system for monitoring VAT. We allow clients to specify the frequency at which they wish to be emailed about their accounts. This can be weekly, fortnightly or monthly. There is also a page on the server which can be used to look at the current status on a number of accounts. This is done using batch processing at the weekend so that it does not run up against the HMRC rate limits.”
HMRC have limits as to how many calls to their APIs can be made by a particular MTD provider in a particular period of time. These are called “rate limits”. That does limit the ability to check multiple accounts during the working day.
Cirrostratus are currently offering a free account for agents who want to keep track of all of their MTD submissions (whichever MTD supplier is being used to submit the returns). This service will remain free for those people who sign up for a free account. However, there will come a point at which Cirrostratus only offer free accounts to people who already have one. Those who sign up later will be asked to pay a fee.
To open a free account on the Cirrostratus Web server and try out status reporting click this link