Making Tax Digital: Any recommendations for MTD-compliant software for UK freelancers? Inițiatorul discuției: Christopher Schröder
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All VAT-registered businesses in the UK have to keep digital tax records from this quarter, which means using MTD-compliant accounting software. And non-VAT-registered businesses, even Tom, will have to from 2024. My current Sage software isn't compatible, and was always way more than I needed, so I'm looking for an alternative that is both simpler and cheaper. Any recommendations? | | | Tom in London Regatul Unit Local time: 23:48 Membru (2008) din italiană în engleză
Ice Scream wrote: All VAT-registered businesses in the UK have to keep digital tax records from this quarter, which means using MTD-compliant accounting software. And non-VAT-registered businesses, even Tom, will have to from 2024. My current Sage software isn't compatible, and was always way more than I needed, so I'm looking for an alternative that is both simpler and cheaper. Any recommendations? https://vatmtd.com/ | | | Christopher Schröder Regatul Unit Membru (2011) din suedeză în engleză + ... INIŢIATORUL SUBIECTULUI Not bridging software | Apr 19, 2022 |
Thanks, Tom. I’ve looked at various types of bridging software like that which submit data from an Excel file, but that’s all they do so it’s like an added operation, and I believe it will only work temporarily until corporation and income tax go digital too. So I was hoping to take the opportunity to switch to an actual accounts package along the lines of Sage, Quickbooks or Zero but one that is dead simple and aimed at the sole trader. I suppose I could set up my own simple spreadsheet for my ten transactions a month but that seems to defeat the purpose of MTD??? | | | Dan Lucas Regatul Unit Local time: 23:48 Membru (2014) din japoneză în engleză Online accounts | Apr 19, 2022 |
Ice Scream wrote: So I was hoping to take the opportunity to switch to an actual accounts package along the lines of Sage, Quickbooks or Zero but one that is dead simple and aimed at the sole trader. I use Accounts Portal for my books and for MTD submissions of VAT and it works fine. Doesn't do multiple currencies, but in practice that doesn't cause me a problem. Dan | |
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Tom in London Regatul Unit Local time: 23:48 Membru (2008) din italiană în engleză
It's monstrous of HMRC to force people to purchase commercial software that requires an annual subscription. The threshold of £10K (is it?) is artfully calculated to catch nearly everybody. So the rich self-employed property developer in his palace has to pay the same amount, for the software, as the occasionally employed opera singer in her garret - or indeed like my young next door neighbour Abdul, who has a wife and two small children to look after, and who I see ... See more It's monstrous of HMRC to force people to purchase commercial software that requires an annual subscription. The threshold of £10K (is it?) is artfully calculated to catch nearly everybody. So the rich self-employed property developer in his palace has to pay the same amount, for the software, as the occasionally employed opera singer in her garret - or indeed like my young next door neighbour Abdul, who has a wife and two small children to look after, and who I see going out at strange times of the day and night, come rain or come shine, on his moped, to deliver meals to people who are too lazy to cook. It's not fair. The system should be free to use.
[Edited at 2022-04-19 15:01 GMT] ▲ Collapse | | | Christopher Schröder Regatul Unit Membru (2011) din suedeză în engleză + ... INIŢIATORUL SUBIECTULUI Not that much | Apr 19, 2022 |
Tom in London wrote: It's monstrous of HMRC to force people to purchase commercial software that requires an annual subscription. I'm sure there must be many people whose annual income is less than the cost of the subscription itself. Some of the approved bridging software packages are free. Fully fledged accounts packages seem to start at £10 a month. I imagine most will be earning more than that! I would just like to find a package that is more streamlined than Sage. Dan, I’ll look at AccountsPortal. Want to give me a referral and we both get 20% off if I choose it? | | | Tom in London Regatul Unit Local time: 23:48 Membru (2008) din italiană în engleză
Ice Scream wrote: I suppose I could set up my own simple spreadsheet for my ten transactions a month but that seems to defeat the purpose of MTD??? I haven't seen the new HMRC interface for self-assessment because until next year I'm still on the "old" paper-based system- but you must be on the new system as of 06 April. How does it differ? I've read that it now incorporates a lot more information that HMRC already holds about you and that the new system is intended to simplify the process as compared to the old system. But is that so?
[Edited at 2022-04-19 21:00 GMT] | | | Christopher Schröder Regatul Unit Membru (2011) din suedeză în engleză + ... INIŢIATORUL SUBIECTULUI
Tom in London wrote: I haven't seen the new HMRC interface for self-assessment because until next year I'm still on the "old" paper-based system- but you must be on the new system as of 06 April. How does it differ? I've read that it now incorporates a lot more information that HMRC already holds about you and that the new system is intended to simplify the process as compared to the old system. But is that so?
[Edited at 2022-04-19 21:00 GMT] Sorry, no idea. I’m not self-employed. | | | To report site rules violations or get help, contact a site moderator: You can also contact site staff by submitting a support request » Making Tax Digital: Any recommendations for MTD-compliant software for UK freelancers? Wordfast Pro | Translation Memory Software for Any Platform
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