HMRC digital accounting
Hi, Just wondering if any seller has experience of accounting software that is HMRC approved for the Making Tax Digital quarterly returns?
Many thanks
HMRC digital accounting
Hi, Just wondering if any seller has experience of accounting software that is HMRC approved for the Making Tax Digital quarterly returns?
Many thanks
0 replies
Seller_MT8rt0A2OpbCx
We used Intuit QuickBooks, which does that.
However we recently moved our current account to Mettle and are using FreeAgent, which is free if you have an account with NatWest, of which Mettle is part of, also RBS and Ulster bank. Done one VAT return so far with FreeAgent, no problems. FreeAgent also seem to do the annual HMRC accounts filing (CT600), which I don't believe you can do directly from QuickBooks, despite it being a new requirement to use software and the on-line forms are being stopped at HMRC. I haven't used this yet.
Seller_ZjZ4slOF0jHpk
Xero have a "Simple" plan. The price is £7/month (£0.35 for first 6 months). You'll find it UNDER the pricing of the main plans at www. xero .com/uk/pricing-plans/ (remove spaces).
Haven't managed to get it to connect to HMRC yet as when I looked it was more about submitting VAT reports (when I'm not VAT registered), but it says it is MTD ready.
Seller_QIMWRIIsqJQai
The short answer is that the actual MTD-recognised bridge to HMRC is the accounting package itself. Xero and QuickBooks are both on HMRC's recognised-software list and file the quarterly returns directly. Any of those will tick the "approved" box.The catch most Amazon sellers hit isn't the submission. It's getting accurate Amazon figures into that software in the first place. Settlements bundle sales, FBA fees, refunds, marketplace-facilitated VAT and reimbursements all together, and if those land in the wrong VAT boxes your quarterly return is wrong no matter how "approved" the software is.
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