MTD Software

Levi

Levi

Ultimate Member
So I've just had that joyous letter saying that I MUST use MTD (making tax digital) to do my VAT returns as of April 2022, even if you're below the threshold and do it voluntarily.... I deliberately stay below the threshold due to tax rates but my clients are vat registered so it's 'better' to be registered in my case (I can claim it back too :)).

Honestly this just feels like another 'tax' on small businesses that in all likelihood doesn't need the extra time requirements of using additional software or addons.... not to mention most seem to have a monthly or yearly subscription. Considering this is being forced on us by the government the least they could do is offer up a free option imo.

So seeing as I already have excel setup for my accounting making my vat returns just a case of adding in the relevant numbers on the website does anyone have any recommendations for addons which are cheap or free?.

It really feels like this is a change for no good reason other than to give money to accountants and their chosen software... they say it's bad accounting costing the treasury money yet they keep letting big companies use massive loopholes.... yep it's the little people hurting the coffers, not the big ones like amazon (income of 44 billion euros no corporation tax) etc :rolleyes:
 
Don't Amazon kinda get away with it because the Corporation Tax is so low but with so many employees they make up in Income Tax... I think I read that before somewhere... probably not.

I always thought there was something fishy. But then there's DTAs and all sorts of things companies are doing. Like setting up in countries with DTAs and funneling their finances to avoid taxes.

All you can do is what you're asked - and hope it works out.

Here in Ireland we pay a Local Property Tax. There's several bands based on the price of your house.
Everyone (mostly) choose the lowest rate band (therefore the value of their house was the lowest)
Just to avoid paying the tax.

I picked the correct rate band, the difference was only 100 euro for the year.
 
Levi said:
So I've just had that joyous letter saying that I MUST use MTD (making tax digital) to do my VAT returns as of April 2022, even if you're below the threshold and do it voluntarily.... :rolleyes:
Click to expand...
I wholeheartedly agree with you Levi. Got my letter yesterday. I was about to post on here to ask for advice on a free (or cheap) option for this MTD rubbish. I do my quarterly VAT returns in Indesign and then submit the 4 qtrs to my accountant, nice and simple. On the .gov website I narrowed it down to the attached. I'm below the threshold as I'm mostly retired but have one very good client so I keep working. Just a heads up btw, when you eventually reach state pension age it's added to your turnover (if you're still working) and you're taxed on it. That's a beaut isn't it?

Any advice very welcome.
 

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