Making Tax Digital (MTD) Survey Results

Our recent Making Tax Digital survey asked our customers how they are submitting their returns and which MTD Approved Software they are using.

It was almost a 50/50 split between practices submitting VAT returns digitally themselves and those submitting via their accountant/agent.

There is a range of MTD Approved Software in use to submit VAT returns digitally. Sage and Xero were the most common, followed by QuickBooks and other smaller providers.

The survey confirmed what we thought would be the case and we are already in the process of providing links with Sage and Xero. We will then investigate QuickBooks and smaller providers will be catered for with a generic option.

Digital links between software for VAT are required in April 2020. This means digital links between the Optisoft Cash module and you or your agents MTD approved software, thus providing a digital audit of everything you buy and sell.

We will be in contact with all customers to advise next steps soon, if you have any queries in the meantime, please call us on 0345 543 6101.