Online accounts compulsory?

Discussion in 'Accounts & Finance' started by Sunny Days, Feb 9, 2018.

  1. Sunny Days

    Sunny Days UKBF Contributor Free Member

    52 0
    Is it true that we'll all be made (by HMRC) to use an online accounting system in the near future? I want to go back to using a spreadsheet for accounts but accountant advising not to as the law will be changing in the near future. I've not heard anything about it and starting to wonder if it's just that he prefers the online accounts package :D (But it's no good for me really as I don't know how to get to the figures I want to.)
     
    Posted: Feb 9, 2018 By: Sunny Days Member since: Feb 9, 2017
    #1
  2. Chris Ashdown

    Chris Ashdown UKBF Legend Free Member

    9,680 1,947
    You are forced to use online payroll to send in monthly payroll data on all employees now but i don't think accounts yet
     
    Posted: Feb 9, 2018 By: Chris Ashdown Member since: Dec 7, 2003
    #2
  3. KAC

    KAC UKBF Enthusiast Free Member

    953 213
    I think this is the latest on "making tax digital" and it only affects you if you're over the VAT threshold
     
    Posted: Feb 9, 2018 By: KAC Member since: May 7, 2017
    #3
  4. Mr D

    Mr D UKBF Legend Free Member

    10,042 1,053
    Learn to get the figures you want. There are books and videos on some packages or accountant could show you if its non standard.
     
    Posted: Feb 9, 2018 By: Mr D Member since: Feb 12, 2017
    #4
  5. STDFR33

    STDFR33 UKBF Big Shot Free Member

    3,543 860
    For now ..good to adopt a proper bookkeeping package now if you’re computer literate.
     
    Posted: Feb 9, 2018 By: STDFR33 Member since: Aug 7, 2016
    #5
  6. johndon68

    johndon68 UKBF Big Shot Full Member - Verified Business

    3,333 608
    The Payroll package doesn’t have to be online,
    It can still be a desktop application...

    John
     
    Posted: Feb 9, 2018 By: johndon68 Member since: Nov 2, 2009
    #6
  7. Chris Ashdown

    Chris Ashdown UKBF Legend Free Member

    9,680 1,947
    Yes sorry I meant sending in the data online in the correct format and automatically not SAS systems
     
    Posted: Feb 10, 2018 By: Chris Ashdown Member since: Dec 7, 2003
    #7
  8. UK Contractor Accountant

    UK Contractor Accountant UKBF Big Shot Full Member - Verified Business

    4,303 723
    HMRC have relented and said they will support spreadsheets when MTD goes live.

    You might need some third party linking software in order to submit quarterly reports.
     
    Posted: Feb 10, 2018 By: UK Contractor Accountant Member since: Sep 18, 2013
    #8