Making tax digital

Discussion in 'Tech Talk' started by Wayners, Jun 24, 2019.

  1. Wayners

    Wayners Well-Known Member

    First free way to submit figures to hmrc I've heard of.. We will all have to use a service next year either accounts app or other but this is free. Not had time to look it over but this could work for me... Thought I would share as heard it on BBC podcast

    https://www.openanswers.co.uk/products/portico
     
  2. jimoz

    jimoz Active Member

    Finally some sense. When are HMRC going to get their finger out and do a software like they do BASIC PAYE TOOLS
     
  3. Wayners

    Wayners Well-Known Member

    They ain't... Few free options about but this is the first im aware of
     
  4. jimoz

    jimoz Active Member

    They might do in 12 months when they realise everyone is making errors
     
  5. gas monkey

    gas monkey Well-Known Member

    most things are brought in gradually an area at a time to allow for probs
    if it gos T up then how will they get there money watch this one
     
  6. gas monkey

    gas monkey Well-Known Member

    quite a few big companies dont
     
  7. Wayners

    Wayners Well-Known Member

    Recently I had my yearly books done by accountant and chatting to him i'm the only person that he knows that pays my tax monthly. That's crazy! It's so stress free just setting up a payment plan online on the hmrc login.. Even if its only a small amount like £50 per month it helps take the strain off finding the total amount twice a year. I don't even think about it as money is taken from pot automatically and I have enough money built up in pot that I can cover the next 3 tax payments. It's the same as PAYE. Better than getting the credit card out or whatever people do to pay tax.
     
    BikerChris likes this.
  8. BikerChris

    BikerChris Member

    That is a fair point mate, and by chance I put £50 in a awkward to access savings account every month for the tax. It would make better sense to just send em that 50 instead, in the past I might have said about the loss in credit interest, but there aint much interest on up to £600 these days is there!

    Back to the original reason for the post though, I wonder if this service is public or private? And then I wonder if it would go the way of Planning Portal (correct if wrong) and be a project started by gov then sold to private, then made a charged service (£20)? At the moment I pay £7-8 per month for some excellent accounting software then £180 to a bookkeeper. No probs so far and because my bookkeeper only deals with self employed people, she knows her stuff and has been really helpful.
     
    Jitender and Wayners like this.
  9. millarman

    millarman New Member

    I thought Quick Books and Xero software allowed submission to the Making Tax Digital system
     
  10. Jitender

    Jitender Well-Known Member

    What's the name of the software you've using?
     
  11. BikerChris

    BikerChris Member

    Its called cashboard app, looks well simple but for me it does the job. Once set up, I put the customer address and name in, then record my time or put a flat fee in. Press "Invoice" and I can then download a PDF which I attach to an email to the customer. When they pay, I mark it as paid. The stuff lets me know how much money I'm owed before invoicing, then how much money in invoices I'm owed and who owes me what. Works well for me, might not for others!
     
    Jitender likes this.
  12. Tony Goddard

    Tony Goddard Active Member

    They have not announced when it will be mandatory yet, so far it's only for VAT registered businesses and those who have volunteered. They say the earliest will be April 2020. It is unlikely it will be that early as there are simply hundreds of thousands of folks who submit a return for very little in terms of paperwork who they will find it difficult to get to invest in software. I still do paper returns for my business just sent my return in for 18/19 my accountant says it's unlikely they will get it sorted until they can provide a basic online provision for free.
     
  13. Bob Rathbone

    Bob Rathbone Well-Known Member

    No, please don't. The basic PAYE tool from HMRC is CARP.
     
  14. BikerChris

    BikerChris Member

    Cheers for that, so does that mean they will not do it for self-employed people so far, and only for VAT biz's?
     

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