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Thursday, 24 January 2019

Making Tax Digital

On March 29th, we ... well, I don't know what happens then, and nor does anyone else.

But from April 1, 2019,  VAT returns go digital. No longer will you have to go to the HMRC web site and type in five numbers. Now, it's going to be made digital! Which means that instead of typing in these five numbers, I have to use an accounting system that automatically transfers these five numbers to the HMRC system.

I doubt if many small traders are ready for this. Or even know about it. With any luck, the accounting package they currently use, will do this for them; for example Sage and Quickbooks will. But what about those of us who use custom systems?

I've been worrying about this, and with the deadline coming up, I've done some serious research, and it turns out that it's not going to be a big problem.

Various packages are available, costing anything from £216 per year down to £15/year.  Taxoptimiser will do it for free for the first year, £30/year thereafter. But there's even better news.


https://www.quickfile.co.uk will do it for free. I've signed up for their service, I found where to go to do the tax returns, and it looks easy.

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