MTD Free Software

Discussion in 'Accounts & Finance' started by sniper74, Sep 11, 2019.

  1. sniper74

    sniper74 UKBF Newcomer Free Member

    16 1
    Hi. We do our accounts on an excel spreadsheet. I know Sage and Quick Books are roughly £12 a month to subscribe to but is there any free software out there so we can link our excel spreadsheet to enable us to submit our VAT figures with having to pay out a monthly fee?
     
    Posted: Sep 11, 2019 By: sniper74 Member since: Apr 30, 2018
    #1
  2. John Hemming

    John Hemming UKBF Regular Full Member

    135 17
    There are quite a few options for free software (including mine - see signature).
     
    Posted: Sep 12, 2019 By: John Hemming Member since: May 23, 2019
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  3. Victoria_V

    Victoria_V UKBF Regular Full Member

    127 16
    Hey there! To be MTD compliant for VAT, you can continue to use excel spreadsheets to keep digital records of your business’s transactions, but excel spreadsheets on their own will not make you MTD compliant, so you could get something called a bridging software which will work as an interface between HMRC’s VAT submission portal for MTD and your spreadsheet.


    HMRC has produced a list of software for MTD for VAT. This list also includes bridging software. You should be able to search online to see if any of the bridging software shown on the list is free to use.

    https://www.tax.service.gov.uk/making-tax-digital
     
    Posted: Sep 12, 2019 By: Victoria_V Member since: May 29, 2019
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  4. John44

    John44 UKBF Contributor Free Member

    70 1
    I'm just using Easy MTD for a fiver a submission. It's a piece of cake to use whilst HMRC and Great Plains still try to get the interface working,
     
    Posted: Sep 13, 2019 By: John44 Member since: Jan 25, 2013
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  5. urstop

    urstop UKBF Contributor Free Member

    50 6
    Posted: Sep 13, 2019 By: urstop Member since: Feb 22, 2013
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  6. Pish_Pash

    Pish_Pash UKBF Ace Free Member

    2,412 620
    I used VitalTax for my last submission (it's an excel add-in, so I just export my VAT data from Quickbooks as a spreadsheet, open in Excel & let VitalTax do the submission)...free for a year, then £12 per annum after that ...I was going to code up my own solution, but frankly it was so slick & so cheap, I can't be bothered to do so now!
     
    Posted: Sep 13, 2019 By: Pish_Pash Member since: Feb 1, 2013
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  7. locutus

    locutus UKBF Regular Free Member

    141 3
    Sounds really good, if you're a small business. :)

    I actually use Xero for all of my accounting, and payroll, and I need something like Xero to keep track of all my receipts - I get a lot. It's also linked to my till system. It makes my life much easier.
     
    Posted: Sep 14, 2019 By: locutus Member since: Jun 12, 2015
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  8. Pish_Pash

    Pish_Pash UKBF Ace Free Member

    2,412 620
    Even for a medium/larger sized business, deploying bridging software (such as Vitaltax etc.) has it's place.....the pain (& potentially...cost) of migrating from legacy accounts software (which hasn't MTD functionality built-in) to Saas acccounts software is significant, so IMHO it's far better just to pay £12 per annum for something like VitalTax etc & be MTD compliant on your existing old accounts software.
     
    Last edited: Sep 14, 2019
    Posted: Sep 14, 2019 By: Pish_Pash Member since: Feb 1, 2013
    #8