Absolute Excel VAT Filer
Making Tax Digital
Making Tax Digital
Since 1st April 2019 it has been mandatory for VAT registered businesses with a turnover above the VAT threshold (currently £85,000) to submit their VAT returns digitally using only MTD compatible software. Organisations with more complex VAT systems, such as local authorities, public corporations and trusts were mandated for MTD for VAT from October 2019.
In July 2020, HMRC announced their plans to extend MTD to a wider audience. From April 2022, VAT registered businesses with a turnover below the VAT threshold will have to file their VAT returns using MTD compatible software. The scheme is being extended again from April 2023 to anyone who files income tax self assessment returns for income they receive from business or property transactions, which is above £10,000 per annum.
As part of this extended roll out, HMRC are reminding tax agents to set up their Agent Services Account (ASA) and to do so sooner rather than later, so that they can continue to see their client’s data and VAT return information.
To help businesses and agents file their VAT returns digitally, Absolute Accounting Software developed the Absolute Excel VAT Filer.
MTD Bridging Software
Our Excel VAT Filer is MTD compatible bridging software. It allows you to submit your VAT data in the correct digital format to HMRC by populating the 9 boxes on your VAT return. This is then digitally linked directly to HMRC’s MTD platform.
Since launching the software in 2018, we have regularly reviewed the product to make sure it delivers the best functionality for our users. As a result, we have introduced the ‘Knowledge Base’ feature, which lets users correct the issues from VAT returns rejected from HMRC. We have also made it easier to use the software and manage the licenses, with the introduction of the new ‘Client Portal’. These updates, along with other enhancements are detailed here.
Absolute’s Excel VAT Filer software is suitable for filing as a single business or as an agent for multiple businesses. This HMRC MTD recognised software will also allow you to link to any existing spreadsheets you are currently using or to any spreadsheets exported from a bookkeeping package that isn’t MTD compatible.
If, as authorised tax agents, you have set up your HMRC ASA you only need our Excel VAT Filer to be able to submit VAT returns direct from Excel spreadsheets to HMRC’s MTD portal. You, or your clients, won’t need to use additional bookkeeping or accounts software.
Simple. Quick. Trusted.
Since launching the product, over a ¼ million submissions have been made to HMRC using Absolute Excel VAT Filer. The feedback from our users has been phenomenal. We regularly receive comments about how simple the software is to use, how quick people have found the filing process and why many have already moved from using other MTD software packages to the Absolute Excel VAT Filer.
From this feedback (along with many other examples on our testimonials page), you can see why the Absolute Excel VAT Filer is one of the most trusted forms of MTD bridging software on the market.
Impressive software. Impressive Pricing
Pricing starts from as little as £40 plus VAT for 10 traders for a 13 month licence.Find out more
Sign up to HMRC’s ASA and save your clients money
Tax agents are being reminded that they need to register for HMRC’s Agent Service Account (ASA) in order to continue submitting VAT returns under the Making Tax Digital (MTD) rules. However, there could be significant benefits for agents who are registered with the ASA and who migrate their client data to the ASA portal.READ MORE
We are taking many calls from people asking if it is still acceptable to still use spreadsheets and bridging software from April 2021
HMRCs advice for MTD software is included in VAT Notice 700/22, specifically section 4.2 of that notice, updated on 31st December 2020. This makes it clear that spreadsheets and bridging software can make up part of what we describe as functional compatible software. You will note in 700/21 there is no time bar on when that software can be used.READ MORE
Another common question from our users is "What does the end of the soft landing period mean to me?"
HMRCs advice on the soft landing period is included in VAT Notice 700/22, specifically section 184.108.40.206 of that notice, updated on 31st December 2020.
This specifically refers to Digital Links, that is a Data transfer or exchange within and between software programs, applications or products that make up functional compatible software must be digital where the information continues to form part of the digital records. It goes on to say that HMRC will allow a period of time, the "soft landing period", for businesses to have in place digital links between all parts of their functional compatible software.