Your time-saving Making Tax Digital software is here

Friday, October 26, 2018

This article is brought to you by BTCSoftware and contains promotional material.

In May BTCSoftware demonstrated their Making Tax Digital (MTD) for VAT solution at Accountex. The long-awaited solution enables accountants to use spreadsheets for MTD for VAT compliance.  

The MTD for VAT solution can draw in data from multiple worksheets in the same workbook and doesn’t require data in the spreadsheet to be in a contiguous block of cells.

The solution then draws the data in digitally from the spreadsheet into an MTD for VAT friendly format for submission to HMRC and accountants can validate and submit the VAT data in an MTD-compliant format to HMRC at the touch of a button. The whole process typically takes just over a minute.

BTCSoftware’s Solution 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.

Take a look at the tool in action below: 

Easy transition to MTD

BTCSoftware has always been at the helm of MTD’s evolution with the team working closely with HMRC. After demonstrating a prototype of its software to HMRC and successfully testing its products in HMRC’s test environment, BTCSoftware became one of the few software developers included in HMRC’s list of MTD for VAT-friendly software suppliers.

“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,” said the company’s CEO, Rob Ellis.

“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 affordable

BTCSoftware’s MTD Solution - BTCHub is cloud-based and is NOW available to purchase as a standalone product for £250 (+VAT) for an annual licence (the equivalent of £1 per return). If you are a BTCSoftware’s Solution Suite for Cloud user.

For more information contact BTCSoftware’s sales team at sales@btcsoftware.co.uk  or t: 0345 241 5030.