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Making Tax Digital for Accountants and Bookkeepers

Making Tax Digital – or MTD – is the UK’s biggest tax shake-up in a generation. From April 2019, any of your clients that are above the annual taxable turnover VAT threshold of £85k will need to file VAT returns online using HMRC-approved software..

What’s in it for Accountants and Bookkeepers?

Making Tax Digital (MTD) has been designed to transform HMRC into one of the world’s most efficient tax administrations. As an accountant or bookkeeper, you can improve and expand your business by letting your existing and potential clients know that your practice is MTD-ready.

There are additional benefits in MTD for accountants and bookkeepers, which include:

 

Why Liquid VAT Filer?

As professional advisors, you will be seen by your clients as a source of expertise when it comes to preparing for VAT under the MTD regime.

Liquid was one of the very first providers with a recognised and working solution for filing VAT returns under MTD that is competitively priced and backed up by good quality support.

Liquid VAT Filer is a cloud-based solution for dealing with VAT under MTD, and it allows an accountant or bookkeeper to offer a service to their clients, all managed from a single application.

If your clients use spreadsheets, Liquid VAT Filer will allow you to map the relevant cells in the spreadsheet. This maintains the digital path required by HMRC, and means that your clients can continue using their spreadsheets without any changes.

Alternatively, your clients could be using bookkeeping software without any ability to file returns electronically – Liquid VAT Filer will give you the ability to provide them with a VAT-filing service under MTD without any pressing need to change software.

Lastly, for the full cloud accounting experience, we offer Liquid Accounts which has VAT MTD built in – we welcome agents and offer discounts for those that recommend us to their clients.

How does Making Tax Digital affect me and my clients?

Read the full analysis of how MTD for Business and VAT is likely to affect your clients business.

Our AnalysisUser Guide

What do I do next?

Read the “Our Analysis” and “User Guide” documents listed above and register with HMRC for your VAT MTD credentials (these are different than any existing HMRC credentials you may have).

Please note that HMRC are rolling out functionality on the new VAT MTD service on a phased basis, so not all business types will be able to file via MTD from the outset.

When you have your new HMRC credentials, sign up for your free single company, single VAT return version of Liquid VAT filer – call 0161 413 5050 if you need more returns or users.