manski:
cav551:
Having read the relevant VAT notice about MTD for VAT when it arrived and consigned it to the bin because I am below the threshold, following a conversation today I see that this is a roll out programme over the next four years, which will extend to the complete accounting system every business uses and that the turnover concession will vanish.I found this link below very revealing about the discrepancy between the cost likely to be encountered, to comply with the directive, published by the government and reality. The morons in the government are claiming £70 a year for 4 years. One of their calculations is that the total cost of setting up the system and lost sales while training to operate the software amounts to £5.60 an hour. Who the [zb] is charging out their labour at £5.60 an hour FFS?
Apparently the accounting industry reckons that the true cost over 4 years is going to be more like £5000. The conversation I had earlier came up with a figure far in excess of this figure, because it seems that not only is the software expensive but new hardware is likely to be needed as well because of the processing power needed to run the software.
We are above the limit but as a small company employing myself, 2 sons and a couple of part timers we are not into mega bucks. Unfortunately I have picked up / been left with the admin side and have tried sage and quickbooks in the past. Can handle the operating alright but I have a personal thing with their constant manouvering / “updating” to extract more money from you, made worse (or better for for them) by the move to purely online versions, so ended up going back to spreadsheets a couple of years ago. I looked into this MTD thing and found a small UK firm that produces an accounting package that does, in my opinion, everything a small firm would need. Same sort of interface as quickbooks and the like. They are called adminsoft and you can either use it free (with some adverts) or buy it outright. It is stand alone on your PC, whether free or bought, so no continuing subscriptions etc. I have no connection with them other than as a user.
I believe also you can get some sort of software / app that will basically interact with the HMRC portal and let you put your spreadsheet outputs / manual addups into it. Do not know anything about them though as I decided to go down the adminsoft route.
I suspect my hourly rate, when sorting this out is far less than £5-60 too, basically £0-00 as I am doing it on top of what I did before and getting nothing for it
I think you are only allowed to use an app that converts from a spreadsheet for a max of 12 months transition.