Technically, Excel exists outside of the end-to-end digital software category that HMRC is ultimately positioning for the new initiative.
However, providing spreadsheets are used in conjunction with a solution that can submit to HMRC and the information can be submitted digitally, they can still be used.
In this scenario, you will need to transition to bridge software or API-enabled spreadsheets in order to digitally submit VAT return data to HMRC.
We can help get your spreadsheet MTD-ready with a bridge software solution or alternatively now might be a good time to look at more efficient cloud accounting software options. At M J Bushell, our preferred choice is Xero.
More than 300,000 subscribers across the UK and more than one million around the world use and love Xero, because you can:
- Access your accounts from anywhere: no need for software installs and updates.
- Automate calculations: Stop worrying about complicated formulas. Let Xero do the sums automatically so we can focus our time providing you with the right advice at the right time.
- View your key financials: Check your bank balances, invoices, bills and expense claims in real-time.
- Bring your team together: Add as many users as you like, while we work on the same data at the same time.
- Sync bank statements: Use direct banks to connect your bank account to Xero for quick and easy reconciliation.
- Submit the right data: Be MTD-ready and easily submit your quarterly returns through MTD-compatible software.
- Feel safe and secure: Rest easy, knowing that Xero provides multiple layers of data protection.
- Enjoy affordable fees: Costing only £22 + VAT per month.
If you have any questions or want to find out more, REQUEST A CALL BACK to discuss with a Making Tax Digital and Cloud Accounting expert.