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MTD & VAT

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    #31
    Originally posted by Maslins View Post
    Correct-ish. You enter the HMRC gateway details once, into a "Settings" section of FreeAgent. Click a button, and it sets up the (semi permanent) link. Following that, when you submit a VAT return, you don't need to enter your gateway login details again.

    FreeAgent have been fairly clear that you need to be careful to:
    1) get HMRC to know you're on MTD and also tweak FreeAgent so it's on MTD, or
    2) stick with the old way for both.
    I haven't yet experienced what happens if you mix and match, but potentially DeludedKitten's post answers that.

    As far as I can see, there is no way out of the MTD beta, so make sure that your ready to do it when you sign up!

    Once we worked out what to do it was OK. The problem was that Freeagent advised the accountant to get me to disconnect from HMRC, which I did. That meant that they could file the return the old way (system prevented it before).

    But even though they thought it had been done, HMRC rejected it because it needed to be done via MTD. The accountant couldn't file it for me.

    So I just reconnected and tried it myself and it worked. Of course, this is the price I pay by trying to be organised and ahead of the game! If only I'd asked my accountant first...
    I'm not fat, I'm just fluffy.

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      #32
      Just thought I'd post to say I've had a few users submit returns in production without issue, so XLVAT for Excel will be on HMRC's list of approved bridging software shortly.

      All users get their first return free; if anyone from this forum signs up, submits a return and either provides a testimonial I can stick on the website, or posts about their experience here, I will throw in a second freebie.

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        #33
        By the way, until the end of the month, it will only work if you're on the MTD pilot. HMRC's full MTD rollout date is 1st April.

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          #34
          VitalTax and TaxOptimiser are both free for the first year. I've used VitalTax and it worked a treat. Their second year price is £1/month. Given the simplicity of an Excel based bridging solution I'm not sure where the leverage is to charge more? What am I missing?

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            #35
            Originally posted by sludgesurfer View Post
            VitalTax and TaxOptimiser are both free for the first year. I've used VitalTax and it worked a treat. Their second year price is £1/month. Given the simplicity of an Excel based bridging solution I'm not sure where the leverage is to charge more? What am I missing?
            The fact that, free period aside, my product is cheaper, at £10 a year for quarterly filing. And gets much cheaper if you're an agent filing on behalf of multiple companies.

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              #36
              Originally posted by OhIllDoIt View Post
              The fact that, free period aside, my product is cheaper, at £10 a year for quarterly filing. And gets much cheaper if you're an agent filing on behalf of multiple companies.
              Fair enough. I'll be in touch in a year. All the best with it.

              Comment


                #37
                So do we have a definitive answer on whether this process is required for everyone or just those doing the pilot?

                Setting up for Making Tax Digital (MTD) for VAT – FreeAgent

                Seems like a lot of extra faff when I've been submitting VAT to HMRC via FA electronically (aka DIGITIALLY ) for ages just by keying in the gov password.

                If you do all of the above signup process I presume that somewhere there is small print in the HMRC bit which says they will, if they see fit, pop over to your gaff with the heavies the day your invoice gets paid to demand their cut.

                Anyone checked this out? My concern is that once you sign away this right HMRC can go poking their nose through every last bit of detail in your FA account.

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                  #38
                  Setting up MTD in FreeAgent was no faff at all and I’ve just submitted my first return since doing it and it worked smoothly. No longer do I need to enter my government gateway credentials either which is a nice bonus.

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                    #39
                    Originally posted by TheCyclingProgrammer View Post
                    Setting up MTD in FreeAgent was no faff at all
                    No wasn't expecting Freeagent to be a faff more the HMRC side and getting things in the correct order.

                    Was there any small print when you signed up?

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                      #40
                      Originally posted by MrC View Post
                      No wasn't expecting Freeagent to be a faff more the HMRC side and getting things in the correct order.

                      Was there any small print when you signed up?
                      No.

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