BTCSoftware can confirm bridging software to ease Making Tax Digital for VAT compliance is very much a reality and available.
In May BTCSoftware demonstrated their Making Tax Digital (MTD) for VAT solution at Accountex. In fact, visitors to BTCSoftware’s stand were amazed at just how simple and quick the software was to use.
A key point of relief for many was that, with BTCSoftware’s solution, accountants can still use their beloved VAT-related spreadsheets for MTD for VAT compliance. This is because the innovative software developer has designed a quick and easy to use the tool – MTD VAT Solution – which does the following:
- Enables Accountants to keep their VAT data in their existing and even multiple spreadsheets – irrespective of how those are set up and what spreadsheet software they use
- Draws the data in digitally from the spreadsheet into an MTD for VAT friendly format for submission to HMRC
- Validates and submits the VAT data in an MTD-compliant format to HMRC at the touch of a button.
BTCSoftware’s solution doesn’t require VAT-related data in the spreadsheet to be in a contiguous block of cells. It easily draws in data from multiple worksheets in the same workbook which is linked to a summarised table, for example, if the user likes to store several VAT returns in one single workbook.
The whole process typically takes just over a minute. Take a look at this video to see it in action.
Additional time-saving features
BTCSoftware’s Solution also provides a window view of a client’s MTD VAT payments, liabilities and refund history, in addition to their history of MTD VAT submissions. Furthermore, it provides a quick online agent-client authorisation process with HMRC replacing (for MTD VAT only) the old 64-8 forms which HMRC are still developing.
HMRC MTD for VAT-approved
Back in July, BTCSoftware was one of the few software developers announced by HMRC as having MTD for VAT-friendly software. This showed the software developer had demonstrated a prototype of its software to HMRC and had tested its products successfully in HMRC’s test environment.
BTCSoftware has always been at the helm of MTD’s evolution with the team working closely and supporting HMRC with its testing. Commenting on this, the company’s CEO – Rob Ellis – said,
“For the past three years, we have been working in close partnership with HMRC to ensure Making Tax Digital is as smooth as possible for our customers. We feel it is important to help HMRC find practical solutions to the technical challenges MTD presents. By working closely with them, we want to ensure that MTD doesn’t present unnecessary work pressures on accountancy professionals.”
MTD for VAT made easy and affordable
BTCSoftware’s MTD Solution is cloud-based and can be purchased as a standalone product for £250 (+VAT) for an annual licence. That’s just a £1 a return. Taking just a few minutes to set up, subscribers gain unlimited free support from the company’s friendly UK-based team.
For more information contact BTCSoftware’s sales team at sales@btcsoftware.co.uk or t: 0345 241 5030.
