WHC is the trading name of Derede UK Limited, company number 06133298. Derede UK Limited is registered to carry out audit work in the UK and is regulated by the ICAEW. Details of the audit registration can be viewed at www.auditregister.org.uk under reference number C003509394
Telephone: 01262 400611
Making Tax Digital
From April 2019 VAT registered businesses will have to keep an electronic record of their accounting transactions and submit their VAT Returns digitally from their first quarter starting on or after 1st April 2019. You will no longer be able to manually enter the figures on HMRCs website.
NB This does not apply if you are voluntarily registered for VAT. If you are voluntarily registered then you can keep using the existing HMRC portal and no cnahges are required
You will need to use some form of software for record keeping. Whilst spreadheets are acceptable they will need to be linked to the HMRC API (application programming interface) using bridging software. The bridging software we intend to use is called VitalTax, https://vitaltax.uk/. It is free and is an MS Excel Add-in.
If you are already completing VAT Returns on your own accounting software without any quarterly amendments then you need to make sure that the software is linked to the HMRC's API if you want to submit the Returns directly from the software. Your software provider should be able to tell you about that. If you have quarterly amendments you will have to link your software to a spreadsheet and the HMRC API
We can prepare and submit VAT Returns for you from your software, which you look after or we can keep your records on spreadsheets or bookkeeping software for you
WHC can help you with the choice of appropriate software, we are experts on SAGE, KashFlow and Quickbooks and are familiar with most other packages.
Whilst you will only be required to submit the VAT Return totals you will need to keep a record of the transactions making up the totals. You need to ensure that your records facilitate this requirement.
We can help with your bookkeeping either by providing the service or by appropriate training.
How will it happen?
HMRC will write to you before you need to submit your first Return under MTD to tell you that you need to register for MTD and you will use your existing Gateway reference and password to register. HMRC will then email you within 72 hours to confirm your registration and can submit your VAT Return using compatible software.
If we complete and submit your VAT Returns for you then we will take care of the registration process and we will confirm when you have been registered.
See the attached link to the HMRC guidance -