Author Topic: MTD for VAT  (Read 3725 times)

Re: MTD for VAT
« Reply #25 on: December 07, 2018, 10:18:23 pm »
It's quite clearly the former.
Quote from: tiermat
that's not science, it's semantics.

SoreTween

  • Most of me survived the Pennine Bridleway.
Re: MTD for VAT
« Reply #26 on: April 17, 2019, 01:02:40 pm »
I've avoided Making Tax Difficult and I have mixed feelings about that.  I've just submitted my final VAT return for the company that has been my working life for the last 15 years, it is no longer registered for VAT.  As of January 2nd I'm an employee of somebody else's company :'(  I asked, when the position was first offered, if I could take it on a contract basis (i.e. through my company instead of direct hire) and did not press the point when the answer was no.  Now I'm in the job I've found there are contract employees in similar positions so I could have.  But the combination of
  • The virtual abolition of tax free dividend income
  • Making Tax Difficult
  • IR351
mean that I'm really not bothered that I didn't.

I'm in the lucky position with my 2nd company that it has never reached the mandatory VAT threshold so I can go on filling out 7 boxes once a quarter.

1 I don't think I'm liable under IR35, the online tool honestly filled out says not.  But since the HMRC don't seem to have clue one2 how to apply their own rules I simply fear them.  If they came after me I would not have the resources, financial nor time, to put up a substantial fight.  I genuinely think the HMRC will increasing go after the small people rather than celebs.  Sure the individual payouts will be smaller but crucifying the small guys (irrespective of whether they should be liable) will be far easier money.

2 For example:
Ian Wells
Susan Winchester
Lorraine Kelly
Kaye Adams
2020 targets: None
There is only one infinite resource in this universe; human stupidity.

Re: MTD for VAT
« Reply #27 on: May 08, 2019, 10:32:12 pm »
I've been able to avoid it for another quarter. I should have started it in April but an error at their end meant I have a six month period from Jan to June so won't start until July. I hope that things are clearer then.
Good luck to everyone now in it.

Woofage

  • Ain't no hooves on my bike.
Re: MTD for VAT
« Reply #28 on: May 09, 2019, 02:41:29 pm »
Bumped into our accountant in Waitrose the other day (god, how middle class that sounds). His firm had done VAT submissions from Excel using a piece of free bridging s/w. When I have the details I'll post them here.
Pen Pusher

SoreTween

  • Most of me survived the Pennine Bridleway.
Re: MTD for VAT
« Reply #29 on: October 19, 2020, 05:42:24 pm »
HMRC fuckers.

Got another letter today as I'm not registered for Making Tax Digital Difficult.  I must do one of two things, the letter implores, either register or declare that I don't need to (I don't).
The URL to register:
Code: [Select]
www.gov.uk
The URL to declare I don't need to register:
Code: [Select]
www.tax.service.gov.uk/submissions/new-form/declare-your-business-is-not-required-register-making-tax-digital-vatFollowed by pages and pages of filling out shit they already know to such an extent I had to double check I wasn't in the middle of being phished.

Oh and the lovely nugget at the bottom of the letter: Businesses will be required to sign up for Making Tax Difficult regardless of turnover from April 2022.

Shits
2020 targets: None
There is only one infinite resource in this universe; human stupidity.

Re: MTD for VAT
« Reply #30 on: October 20, 2020, 09:37:58 am »
I've managed to dodge this by being a bit workshy and hence below the threshold for MTD.  Nonetheless, having discussed it with my accountant they've said they'll happily continue to take my spreadsheet records and stick them into suitable software and upload for me for a small quarterly fee to save me buying the software myself, and all the attendant upgrades etc.  Mind you, my records are pretty simple.

Jaded

  • The Codfather
  • Formerly known as Jaded
Re: MTD for VAT
« Reply #31 on: October 20, 2020, 10:22:40 am »
Thanks for the heads up. I did worry that the bastards would do this. Oh well, that will change the quarterly VAT process a bit. And increase costs...
If you don't like your democracy, vote against it.

Re: MTD for VAT
« Reply #32 on: October 20, 2020, 10:20:37 pm »
I've managed to dodge this by being a bit workshy and hence below the threshold for MTD.  Nonetheless, having discussed it with my accountant they've said they'll happily continue to take my spreadsheet records and stick them into suitable software and upload for me for a small quarterly fee to save me buying the software myself, and all the attendant upgrades etc.  Mind you, my records are pretty simple.
Is the small quarterly fee more than the price of the software.

Re: MTD for VAT
« Reply #33 on: October 23, 2020, 07:57:16 am »
I have been doing this for the last three returns and it is a bit more hassle but not too bad. 

I use Avalara MTD Filer, which is a free software designed to take my excel outputs and put them into the format that HMRC requires.  It's basically an extra stage.  It does take more time, but it is less than an hour, every three months, so it is bearable. 


Re: MTD for VAT
« Reply #34 on: October 23, 2020, 08:12:50 am »
I have got it down to 1 minute and 16 seconds.

Re: MTD for VAT
« Reply #35 on: October 23, 2020, 09:17:30 am »
I have got it down to 1 minute and 16 seconds.

Is that using MTD Filer, or software?

I guess that is probably realistic for MTD Filer.  I just did it last week and it took almost an hour as I had to set it up on a new computer.  But most of the time is reminding myself how it works, rather than actually doing it.  If I include that time, ten minutes is a reasonable worst case of what it should take.

Re: MTD for VAT
« Reply #36 on: October 23, 2020, 02:56:37 pm »
I have got it down to 1 minute and 16 seconds.

Is that using MTD Filer, or software?

I guess that is probably realistic for MTD Filer.  I just did it last week and it took almost an hour as I had to set it up on a new computer.  But most of the time is reminding myself how it works, rather than actually doing it.  If I include that time, ten minutes is a reasonable worst case of what it should take.
1 min 16 was the duration of the tutorial video. In actual fact it is but a few seconds to do in reality. I start the mtd software, press the excel option and then drag and drop the excel spreadsheet on to the drop zone and press ok. Paid for, not free mtd software though.

Jaded

  • The Codfather
  • Formerly known as Jaded
Re: MTD for VAT
« Reply #37 on: October 23, 2020, 03:27:24 pm »
I have got it down to 1 minute and 16 seconds.

Is that using MTD Filer, or software?

I guess that is probably realistic for MTD Filer.  I just did it last week and it took almost an hour as I had to set it up on a new computer.  But most of the time is reminding myself how it works, rather than actually doing it.  If I include that time, ten minutes is a reasonable worst case of what it should take.

Hmm, it doesn't work on Apples. I guess I'll has to set up Office 365 on my Virtual Win 10 machine. I already use a MacOS virtual machine for my accounting package (because gouging) so that's only be three places I need to go to each quarter...
If you don't like your democracy, vote against it.

Re: MTD for VAT
« Reply #38 on: October 23, 2020, 03:32:42 pm »
I have got it down to 1 minute and 16 seconds.

Is that using MTD Filer, or software?

I guess that is probably realistic for MTD Filer.  I just did it last week and it took almost an hour as I had to set it up on a new computer.  But most of the time is reminding myself how it works, rather than actually doing it.  If I include that time, ten minutes is a reasonable worst case of what it should take.

Hmm, it doesn't work on Apples. I guess I'll has to set up Office 365 on my Virtual Win 10 machine. I already use a MacOS virtual machine for my accounting package (because gouging) so that's only be three places I need to go to each quarter...
My one is also available as web version so works with macs. Send me a message and I will sort you out.