Keytime reveals new VAT Filer solution ahead of MTD day

There are only a few weeks now until it arrives at last, after all the talking, debates and changes to the plan.

We know there’s a lot of anxiety about finding a solution and that’s what we’re filling you in on today with some exciting news.

No, it’s not Brexit that we are talking, it’s Making Tax Digital.

Helping you comply

We want to tell you about our brand new Keytime VAT Filer solution that will help you comply with MTD.

It’s what HMRC callsbridging software’ and it is now available to buy as part of our Keytime Accountants' Suite.

As a reminder, starting in April, all businesses with a turnover above the £85,000 VAT threshold will need to keep digital records and file their VAT returns via HMRC’s new APIs.

Bookkeeping software such as KashFlow is the ideal solution for MTD for VAT requirements but we realise that, for various reasons, including the complexity of certain VAT cases, this doesn’t suit everyone. So, that’s where Keytime VAT Filer comes in.

Keytime VAT Filer allows you to import summarised VAT figures from Excel.

It automatically connects to HMRC, and retrieves client data, such as previous submissions made under MTD, current VAT obligations, liabilities due and payments already made.

Your clients’ submissions are, therefore, much more straightforward.

What are the key features?

Here’s a round-up of the key features:

  • Bridges the gap between your clients’ digital bookkeeping records and your VAT return submissions to HMRC
  • Quickly and easily imports VAT data via a digital link to ensure compliance with Making Tax Digital
  • No data entry required: VAT Filer is fully integrated with Practice Manager and works with your existing client records.
  • Automatically retrieves latest VAT obligation, previous submissions and payments made and any liability outstanding

Lastly, if you weren’t already aware or haven’t yet signed up, HMRC’s beta programme for MTD for VAT is running and available for all business types to join ahead of go-live in April. Check out the HMRC website for more.

Want to know more? Need extra help with MTD compliance?

Call us on 0344 815 5560 to discuss VAT Filer and other MTD compliance matters with a member of the team.