Why the correlation between MTD and online accounts? This was the mantra trotted out by the online software companies, who then got their fingers burnt when HMRC dropped the 2017 deadline and pushed it out to 2020 at the earliest. You don't need online accounting software to be MTD compliant, although I concede that an online connection will be needed to submit VAT, but then it is already.
I'm not a luddite and love technology, but it seems to me that the cloudy people love to push their software as the Holy grail when in fact it isn't. Desktop is so much quicker, although I do agree that data collection (eg bank feeds) can be much quicker.
I'll continue to use VT+ to do a clients bookkeeping and use something like Neilson James to do the bridging bit. Ergo no extra cost to my clients save for a small increase in doing the VAT returns to cover the cost of using their software.
Out of interest what was the sum outstanding to HMRC on PAYE and other revenues?#
£75 million I heard on the news last night.
One very straight forward subbie,who still writes in a book has been looking at Quickbooks and he said to me yesterday, I don't want it to go to HMRC without you checking it.
Lets hope many more are like that. The cloud crew are saying its as easy as scan click submit quarterly. We all know that's not the case.
I've not said anything yet to my clients until I know exactly what HMRC require in the quarterly submission. My thinking is that it will be akin to the VAT return and HMRC are updated with income and expenses, with possibly some extra information, and the annual submission being as it is now.
I understand that my own choice of software (VT) will have the capability to submit to HMRC from the software, although it may be VT accounts which does that rather than VT+
Also, I wouldn't be at all surprised if the start dates moves to 2019.
So 86% of companies have embraced cloud have they? None of my clients have (I'm a bookkeeper) apart from one who leaves his stuff in dropbox for me.
55% of companies don't think they will need an accountant? So businesses know how to do their accounts to completion do they, or do they imagine they'll just feed everything into their little cloud app and it will do the rest? You only have to look on uk business forums to see how small companies who think they can't afford an accountant regularly mess it up.
Perhaps this article should have had sponsored by xero tagged on to it.
Based on the comments from Essex Accountant, it is going to be very much down to the client being prepared (and ready) to supply their bookkeeper/accountant with the correct paperwork in order to have their quarterly "return" submitted. It's our job to educate the client, and if they don't want to be, then it's their fault if the "return" isn't submitted in time.
I agree with Rebecca that non incorporated VAT businesses should be the first to make the digital returns, because they already have sales and purchase information available, and it's probably not going to be too much of a stretch to include what else will be required, once we know what that is of course. That should start in 2019 as planned, and 2018 be scrapped altogether.
I am already using taxfiler for some SA returns, but I quite like the HMRC agent portal. At the moment it's only access to the DTA that we don't have, will we still have access to the current HMRC agent portal?
Obviously if Taxfiler allows access to the api, then the online portal will be redundant anyway. However, it will mean an increase in costs whichever software is used, as we can't expect the vendors to do it for nowt.
I agree with Kevin, the serif font looks awful when the rest of the site is sans-serif.
I think the reason you believe the replies are not chronilogical is because when you "respond" to a post it puts it immediately under that reply. If you look closely you'll see a slight indent on my comment, this is because I have responded to your post. If you reply rather than respond it goes at the bottom of the other replies.
Ben, I think the indent should be clearer, it confused me at first.
How many days late?
I thought paper returns had to be in by 31st October?