Making Tax Digital
HMRC here in the United Kingdom have embarked on a strategy to grant access to their processes via application interfaces made generally available to a large range of developers. Their intent is to provide access only through third party implementations.
We have implemented bridging software for VAT which connects to the HMRC Gateway and allows you to file your VAT electronically yourself which is essential if your accounting supplier does not provide an interface to the HMRC.
Developers need to go through an authorisation process with HMRC and the emphasis is on encouraging digital record keeping for accounting information so you cannot type the nine numbers into an application but need to upload a spreadsheet on to our website to file VAT.
The MTD requirements for VAT have led to a marketing war between some of the small business accounting products with Sage, Xero, Quickbooks and others all offering an interface to the HMRC Gateway. New requirements next year for Landlords to file quarterly financial information if they have a total rental of mroe than £10,000 a year uses another application gateway from HMRC. We are actively reviewing this area so please get in touch if this is of interest.