RIP HMRC VAT Portal

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From 19th April the HMRC VAT Portal used to submit VAT returns will be no more, it will cease to be, bereft of life, an ex-portal!
But don’t despair there is life after death. We shall guide you to the light.
In A Nutshell
Making Tax Digital for Business is a HM Revenue & Customs (HMRC) project designed to use the latest technology to provide taxpayers with a streamlined system to store all tax information in one online place.
Since it was announced in 2015, Making Tax Digital has undergone several changes – some of which have already been introduced.
Almost all UK taxpayers and owners of small business now have a Personal Tax Account enabling them to check their finances and manage the information HMRC holds about them ‘on the go’.
From April 2019, businesses above the VAT threshold will be required to keep their records digitally and provide HMRC with quarterly updates for their VAT. Keeping business records digitally means recording the transactions within appropriate bookkeeping software which is comparable with HMRC’s systems to enable the updates to be made.
Why?
• Accurate Tax Information Replacing paper-based bookkeeping with digital tax accounts means you can check that the information HMRC holds about you is 100% accurate
• Reduced Errors
Making Tax Digital’s new digital reporting will allow HMRC to look at your up-to-the-minute tax information almost instantly
• Easier to understand
• Easier contact with HMRC
A Personal Tax Account is provided by HMRC to put an individual’s tax details in one place so that you can register, file, pay and update your tax information online whenever you want.
In addition to the Personal Tax Account, there is also an Online Tax Account for Businesses which gives small and medium-sized businesses similar access to their HMRC account, as well as being able to process taxes including PAYE for employers, VAT, Corporation Tax, and Self-Assessment.
What Software Should I Use?
To make the changeover from paper to digital accounting as easy as possible for small businesses, we can offer you digital accounting through our partners Intuit QuickBooks.
If you already use online accounting software (such as Xero, Kashflow, FreeAgent, Sage or others) then we can help you meet the requirements of Making Tax Digital too.