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Post Info TOPIC: MTD First use


Member

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MTD First use


I'm a bookkeeper for a small enterprise and I'm a bit confused as to when I'm required to submit a VAT return via MTD software.

Our next VAT period - February to April 2019 straddles the MTD go-live date - do I submit this period's VAT return (in May) via MTD software ?

Or does MTD start for me after the next full VAT period (May to July 2019) with submission in August 2019 ?

All advice gratefully received thanks



-- Edited by BazzaS on Tuesday 19th of February 2019 03:35:54 PM

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Master Book-keeper

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www.icaew.com/technical/tax/making-tax-digital/mtd-guidance/mtd-and-vat

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Joanne

Fallows Hall Ltd

Winner - Bookkeeper of the Year 2015, 2016 and 2017

Thoughts are my own/not to be regarded as official advice,which should be sought from a suitably qualified Accountant.



Master Book-keeper

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Hi Barry

The first MTD submission will be for the May - July VAT return.



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John

Any advice given is for general guidance and professional advice should be sought applicable to your circumstances.



Expert

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Aha - that link is useful; thanks Joanne.

Reason:

I was discussing this very problem with someone recently. I was thinking that my clients who will be affected all have March/June/September/December VAT returns - so the first time I need to think about MTD would be for the June returns, due 7th August.

The other person thought I'd have to submit my March returns under MTD, because their submission date falls after 1st April.

That link confirms what I thought.

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Vince M Hudd - Soft Rock Software

(I only came here looking for fellow apiarists...)



Master Book-keeper

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For some reason Bazza has asked this Q also on Aweb but 2 whole days after it was answered on here. Have you lost your login B?
www.accountingweb.co.uk/profile/bazzas

Your welcome Vince. Ive got a list of start dates for all my clients now so I dont have to think about it

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Joanne

Fallows Hall Ltd

Winner - Bookkeeper of the Year 2015, 2016 and 2017

Thoughts are my own/not to be regarded as official advice,which should be sought from a suitably qualified Accountant.



Expert

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Funnily enough, where I am today there was a letter in the post from HMRC that clarifies it anyway* - it very clearly tells me that MTD will apply from "your first VAT Return for the period starting on or after 1 April 2019" (which was what I thought - and obviously confirmed by your link).

Which is good - that gives me until 7th August.

My other clients likely to receive such a letter will probably just dump it in a random pile and forget about it - but they have the same quarter, so the same applies.

* According to the director here this is the first thing he's received from HMRC about it.


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Vince M Hudd - Soft Rock Software

(I only came here looking for fellow apiarists...)



Senior Member

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VinceH wrote:

Funnily enough, where I am today there was a letter in the post from HMRC that clarifies it anyway* - it very clearly tells me that MTD will apply from "your first VAT Return for the period starting on or after 1 April 2019" (which was what I thought - and obviously confirmed by your link).

Which is good - that gives me until 7th August.

My other clients likely to receive such a letter will probably just dump it in a random pile and forget about it - but they have the same quarter, so the same applies.

* According to the director here this is the first thing he's received from HMRC about it.


Funnily enough Vince, the client I was at today also had that letter waiting for me and that gives me until 7th August toobiggrin



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Janet

They keep making the system idiot proof but then make bigger and better idiots!



Guru

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I have came up with a great solution to MTD

I am gonna dump my VAT clients and that's it problem solved biggrin



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Doug

These are only my opinions of how I see things and therefore should not be taken as advice



Master Book-keeper

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HMRC are relying on Accountants/bookkeepers to tell their clients. I have done, but really why the hell should I did them out of a mess?

Not sure how HMRC are expecting the ones who have no prof bod on their side to have the feintest clue. Probably rely on the old 'ignorance of the law is no defence' line.

So many businesses have still to receive the letter. According to sources all the mandated ones will get them by the end of February, although as someone pointed out - they didnt actually state which February. Given its the 25th Im not holding my breath.


Loving your plan Doug - that is one way to get rid of 99.1% of my client base though.

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Joanne

Fallows Hall Ltd

Winner - Bookkeeper of the Year 2015, 2016 and 2017

Thoughts are my own/not to be regarded as official advice,which should be sought from a suitably qualified Accountant.



Master Book-keeper

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An interesting discusson on a local Facebook group last week, potted version.

"I'm so annoyed, HMRC are expecting me to go out and buy new software when I've done it for years on spreadsheets, looks like I'm going to have to subscribe to Quickbooks"

"Yeah me too, I'm going to have to use Xero"

Me: "Google bridging software" Them: "Oh brilliant, thank you"

I bet the two main cloud providers are rubbing their hands with glee, as I'm sure there will be a lot of small businesses thinking the same.



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John

Any advice given is for general guidance and professional advice should be sought applicable to your circumstances.



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It's the goose that has laid the golden egg.



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Mike



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Mike W wrote:

It's the goose that has laid the golden egg.


And it couldn't possibly be that the management consultancies employed by the Government are the same ones employed by the accountancy software companies.... Me, cynical, not in a million!



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Shaun

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