New Online Tax Scheme Next Year?

[Willoughby 15]

This seems to have passed me by but from April next year you wont be able to simply log onto HMRC and input your VAT figures.......the information must be transferred electronically from an accounting system of some sort........It goes under the HMRC heading of "Making Tax Digital".... if you're in doubt do a google search.....

We sell niche motors doing perhaps 6 cars or so a month, simply use a couple of spreadsheets for sales and purchases. Its then not rocket science to take the totals and put the numbers into the HMRC Vat return. Nice and simple and doesn't cost a penny....

You guys with SAGE or "proper" accounting systems will no doubt have it sorted.........anyone else out there aware of this........sound like it could be a real pain in the arse!

 

 

• .

 

 

 

[Tom 164]

Have you been under a rock? Was announced two years ago. 

I use quickbooks nice and easy once you get it rolling. 

HMRC are doing it as they are losing billions in mis calculated tax/vat. A pain but has to be done!!

[justina3 518]

Been covered quite a bit hit search button 

[EPV 631]

The Queen Mum dead? When?

35 minutes ago, justina3 said:

Been covered quite a bit hit search button 

Where you been hiding mush?

[MrC 142]

They landed on the Moon, When?

[Area 51 33]

54 minutes ago, MrC said:

They landed on the Moon, When?

Bit harsh, Neil died a while back...

 

[justina3 518]

3 hours ago, EPV said:

The Queen Mum dead? When?

Where you been hiding mush?

Just been flat out in work and as you mentioned most of the posts on here lately are newbies asking for help then off never to be seen again. 

 

[AAM90 22]

On 08/11/2018 at 10:46 AM, Willoughby said:

This seems to have passed me by but from April next year you wont be able to simply log onto HMRC and input your VAT figures.......the information must be transferred electronically from an accounting system of some sort........It goes under the HMRC heading of "Making Tax Digital".... if you're in doubt do a google search.....

We sell niche motors doing perhaps 6 cars or so a month, simply use a couple of spreadsheets for sales and purchases. Its then not rocket science to take the totals and put the numbers into the HMRC Vat return. Nice and simple and doesn't cost a penny....

You guys with SAGE or "proper" accounting systems will no doubt have it sorted.........anyone else out there aware of this........sound like it could be a real pain in the arse!

 

 

• .

 

 

 

It is a pain in the arse!

We currently use Easy Dealer spreadsheet. £40 per year and does all we need it do to. But this won't be any use in April unless the developer comes up with a "bridge" to HMRC.

I understand all the big software developers will have a bridge. But most don't work for the margin scheme.

Either ways it's going to cost us all me thinks!

If Easy Dealer develop a bridge I will let you know. Its perfect for smaller dealers

[Willoughby 15]

ok thanks......not sure if I'm also a "newbie" ....... first job was a car salesman with Lex Rover selling the last of the SD1's.......had my own place for the last 13 years.........know its a changing business but often seems its a sledgehammer to crack a nut...........same with FCA registration........but that's another story.....  

[JamieClickDealer 0]

Hi Willoughby,

I penned a short blog post around the new HMRC regulations for dealers: https://www.clickdealer.co.uk/dealership-ready-making-tax-digital-vat-changes/ 

Hope it helps

Best regards,

Jamie

[trade vet 702]

4 hours ago, JamieClickDealer said:

Hi Willoughby,

I penned a short blog post around the new HMRC regulations for dealers: https://www.clickdealer.co.uk/dealership-ready-making-tax-digital-vat-changes/ 

Hope it helps

Best regards,

Jamie

Great ‘blog post’ bullshit Jamie.However the bottom line is that buried in your ‘infomercial’ you appear to admit that you are not yet recognised by HMRC to deliver MTD.Am I right or wrong !