MTD - VAT. Anyone done their first digital return yet?

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paulears

paulears

Free Member
Jan 7, 2015
5,657
1,666
Suffolk - UK
  • #1
    I wonder if anyone has tried pressing then button on their 'new' software yet. I've only got a couple of missing things I'm waiting for, so will be probably able to submit the return tomorrow. My first real test for FreeAgent. Kind of expecting to press the button and have nothing happen? It's also going to be a repayment one for my first digital one. So it will be interesting to see how smoothly the refund takes place.
     
    HFE Signs

    HFE Signs

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    Feb 17, 2011
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    www.hfe-signs.co.uk
  • #5
    We did it just over 3 months ago, thought it had all worked, paid the money and then got a nasty letter saying we were late and explaining the consequences. We called and explained, they found the payment and we had to appeal (in writing) to have the notice removed from our records. The next submission, we called to check and it had all worked correctly. I'd suggest with the first submission a follow up phone call.
     
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    paulears

    paulears

    Free Member
    Jan 7, 2015
    5,657
    1,666
    Suffolk - UK
  • #7
    Bit of an anti-climax. Although, at a glance, I spotted something in FreeAgent. A small number of transactions were included twice - in different categories. I spotted a suppliers name and when I checked I found a few duplicates. Simple to remove, but not quite sure how I entered things twice? I'll have to check in the next quarter. I thought I had the hang of it. When it was looking right, I pressed the submit button and it just worked. In reality - the new system just saved me a few minutes of entering figures in a few boxes. Not wildly different - so I guess all in all - I'm happy enough. I did assume HMRC would email confirmation, but logging in and checking the return was there, it was - so no real point, although I like printing tax details out and filing them.
     
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    jporter1TS

    jporter1TS

    Free Member
    Apr 5, 2019
    15
    2
    Rotherham, South Yorkshire, UK
  • #8
    We submitted ours yesterday using Ice Ledger. A bit of an anti-climax - click of a button and a message stating that the VAT return has been submitted successfully.

    System currently showing amount owed as our liability. Have made payment using Internet Banking an hour ago. Not sure how long it will take for HMRC system to log the payment. Will be checking regularly, over the next few days to make sure that the system shows that payment has been received and the liability shows as cleared.
     
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    paulears

    paulears

    Free Member
    Jan 7, 2015
    5,657
    1,666
    Suffolk - UK
  • #9
    Not being cynical but I wonder if the only data uploaded are the box contents we've filled in for years? I'm trying to reconcile the cost for HMRC with the benefit. Those people that fiddle the VATwill surely operate two book keeping software systems? You still have to push the button manually. I wonder if apart from the box info, it also delivers other things from your accounts - totals for income and expenditure for instance? Seems a lot of work to save people logging in and filling in a few boxes.
     
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    jporter1TS

    jporter1TS

    Free Member
    Apr 5, 2019
    15
    2
    Rotherham, South Yorkshire, UK
  • #12
    Agreed. it does appear that SMBs are having to swallow a huge amount of the cost of implementing the new system.

    Suppose the main benefit for them would be less incorrect submissions due to typing errors (on the proviso that the chosen solution correctly calculates the figures and the data is entered correctly) and one system to maintain rather than multiple...
     
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