Don’t Rush Into MTD: How Liquid’s VAT Filer Can Help You Stay Compliant
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With Making Tax Digital (MTD) for VAT now in force, some businesses are in panic mode. But there’s no need to worry.
VAT returns are required quarterly, meaning you have three months to ensure they are filed in a digital format. Plus, compliancy is easy if you have an effective solution in place.
Join us as we explain how Liquid Accounts’ VAT Filer will guarantee that you follow HMRC’s requirements fully, without needing to rush the switch from your existing accounting processes.
One of the main requirements of MTD is to ‘maintain the digital path’. Taxpayers now have to calculate and submit their VAT using digital accounting software, rather than manually.
Currently, HMRC are allowing spreadsheets for MTD for VAT submissions, but bridging software is needed to facilitate these.
Liquid fills the gap in the market that was brought about by MTD. Our VAT Filer is the ideal bridging software. It accepts VAT return information from a spreadsheet, and the relevant fields are also mapped with our tools. This means data will be remembered for future returns, ensuring that they can be completed in only a matter of minutes.
The tools allow VAT returns to be filed compliantly and require minimal effort from the taxpayer. There’s even the added bonus of not having to deal with HMRC.
Traditionally a complex process, Liquid’s VAT Filer has simplified preparing the data in the correct format. Logging onto HMRC’s various platforms, the filing itself, and getting a submission confirmation are made straightforward too.
Our VAT Filer also remembers login credentials, so you don’t have to search for your details. This is done securely, delivering the ultimate peace of mind. On top of this, once submitted, the VAT returns are stored to maintain a complete VAT history.
Our VAT Filer is incredibly advanced. We stand out in the market by offering a standalone cloud application that can deal with not just information from a spreadsheet, but also data from any accounting application.
There are no restrictions with our VAT Filer either. It can be configured as ‘multi-company’, allowing businesses to file a multitude of returns if necessary. If you’re an accountant, you’ll be able to submit multiple returns for your clients.
Those who require more than one person to access and submit the VAT returns won’t have an issue either: it enables multiple users to be added.
Liquid’s VAT Filer helps businesses to submit their returns compliantly and confidently. To reap these rewards for yourself, get in touch with our friendly team on 0161 413 5050 or email info@liquidaccounts.com.