BTCSoftware to launch MTD for VAT solution

BTCSoftware to preview MTD for VAT application
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Tax and practice software developer BTCSoftware will introduce its Making Tax Digital (MTD) for VAT Software at Accountex 2018 next month.

Building on its success as a nominee in the 2017 MTD category in AccountingWEB’s Software Excellence awards, BTCSoftware will preview its MTD for VAT application with more than 10 months to go before the MTD filing becomes mandatory for VAT on 1 April 2019.

BTC and selected customers have been participating in HMRC’s private MTD for VAT beta testing programme. This work has influenced the new product’s development and will enable the company to support users who join the public testing programme, said BTCSoftware CEO Rob Ellis. The new MTD VAT solution is being implemented to seamlessly integrate with BTCSoftware’s Solution Suite.

Key features

Accountants using the BTC application will be able to submit clients’ VAT returns directly to HMRC in the required MTD format. Built in application programming interfaces (APIs) will also give accountants access to historical MTD VAT data.

“The MTD for VAT software will show historic VAT returns submitted under MTD and users will also be able to see the payment history, the refund history and what their liabilities were at certain points in time,” said Ellis.

The old 64-8 client authorisation forms for VAT will be replaced by an online agent-client authorisation process and customers using the new solution will also be able to view the progress of the tax returns before they are submitted.

API and integrations

“We are providing a module that allows people to submit VAT returns via the MTD APIs. It will integrate with bookkeeping packages like Xero, QuickBooks, FreeAgent and Reckon One. Using the API links we will extract the VAT reports and populate the VAT returns automatically. We will also allow CSV imports from other products that don’t have suitable APIs,” said Ellis.

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By seitler
17th Apr 2018 21:40

Wondering if this will integrate with VT+ Transaction given that vat Returns can't be submitted from there

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20th Apr 2018 09:46

I can confirm that BTCSoftware will have the functionality within its MTD for VAT software to import VT data using their clipboard format.

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21st Apr 2018 08:18

I presume CSV imports will only meet the MTD requirements of “functional compatible software” if the source system for the CSV data meets the requirements ? Ie this will not make spreadsheets compliant?

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