BTCSoftware and HMRC collaboration makes MTD for VAT software a reality

For the past two years the BTCSoftware Team has been working in close partnership with HMRC to ensure Making Tax Digital for VAT (MTD for VAT) is as smooth as possible for its customers. The Award-winning software developer believes in the importance of helping HMRC find practical solutions to the technical challenges MTD presents.

Approved MTD for VAT software developer
Following on from its work road-testing the MTD technology, BTCSoftware was delighted to be featured in HMRC’s list of approved MTD for VAT software developers back in July 2018. This recognised that it had satisfactorily…

  • tested its products in HMRC’s test environment
  • already demonstrated a prototype of its software to HMRC
  • proved its software complied with HMRC’s rules and guidelines

    • At the helm of MTD for VAT software development
      Over the summer and early autumn, the BTCSoftware team has continued working closely with HMRC on the Private Beta Testing for MTD for VAT. As part of the testing, it completed its first MTD for VAT submission through the company’s BTCHub software, and BTCSoftware customer - Gordon Spence –successfully put two further submissions through. Along the way HMRC evaluated the process and, working with the BTCSoftware team, were able to fine-tune aspects of the user experience.

      Commenting on the close working relationship it has forged with HMRC’s Development Team, BTCSoftware CEO – Rob Ellis - said, “Our abiding ethos is that software should never be expensive nor cumbersome. We have therefore been keen to develop an MTD for VAT software solution that is simple to use, easy to set up and affordable. By working closely with HMRC, we wanted to ensure that MTD for VAT doesn’t present unnecessary work pressures on businesses and their accounting/tax advisers. As a result we’ve been very happy to work with HMRC find workable solutions to the complex issues MTD for VAT’s software development presents.”

      Theresa Middleton, Programme Director, Making Tax Digital at HMRC added, “Making Tax Digital will help businesses and their agents devote more time and attention to maximising business opportunities, encouraging growth and fostering good financial planning. It’s part of fundamental changes HMRC is making to the way the tax system works to make it more effective, efficient and easier for taxpayers to get their tax right. We are working closely with software suppliers to ensure a smooth transition for businesses and their agents.”

      Making Tax Digital for VAT made easy… and affordable
      To aid MTD for VAT adoption and compliance, BTCSoftware has also been keen to develop software which runs seamlessly with the existing accounting approaches that businesses and their advisers use. The company’s MTD for VAT software includes the following innovative features:

      • Validation and submission of VAT data in an MTD-compliant format to HMRC at the touch of a button
      • A window view of the organisation’s/sole trader’s MTD VAT submissions, obligations, payments and refund history
      • Spreadsheet-friendly functionality – irrespective of how those are set up and what spreadsheet software is used. The software draws the data in digitally from any spreadsheet into an MTD for VAT friendly format for submission to HMRC
      • A quick online agent-client authorisation process with HMRC (for MTD VAT only) replacing the old 64-8 forms
      • Integration with Excel
      • Integration with Sage
      • Integration with VT Software
      • Integration with Xero
      • Integration with QuickBooks (online)
      • Acceptance of CSV imports from other bookkeeping packages

        • BTCSoftware’s MTD for VAT solution- BTCHub is Cloud-based solution. It offers a standalone bridging software product which costs only £1 a return (min 250 returns).

          For more information
          To talk to one of the BTCSoftware team about its MTD for VAT solutions or to book a demo, call 0345 241 5030 or email Sales@BTCSoftware.co.uk or visit www.btcsoftware.co.uk

           

           

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