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Going Digital with VAT

Anybody recommend a program that allows VAT submissions under the new digital requirements? 

  • Apparently, Quickbooks is recommended by some accountants.

    There's a list here: www.tax.service.gov.uk/making-tax-digital-software

  • Thank you GK. I really shouldn’t have made such a post but it is for a young man who was an apprentice of mine and who is just starting out in electrical contracting work.

  • Another VAT question, regarding domestic EVSE equipment.

    I assume that the installation of electric vehicle charging equipment at domestic properties is liable to the full rate of VAT of 20% on the supply of the charging equipment and ancillary materials as well as on the labour?

    I tried an internet search and found this website, it is however a Scottish firm of accountants and I’m unsure if there’s differences in the VAT regulations between Scotland and England?

    www.prioryaccounting.co.uk/VAT-and-electrical-charging-installations

  • Regards the question Lyle asked, I have not been VAT registered for a very long time and when I was I only had one customer who operated self billing and self vouchering schemes for VAT and sub-contractors tax, as it was doing work for a new housing developer the VAT was zero rated and I was exempt from deduction of sub-contractors tax, so I only had to record and file their payment slips they sent me with the cheques, then claim the VAT back quarterly on my expenses then pay my income tax and National Insurance as required.

    Those happy days of simple accounting are long gone, now I use an online accounting system that my accountant has, but I still keep a written accounts book as well, because if my accountants were to go out of business or their online accounting system goes down for some reason I would have no records at all, it seems over the top still keeping a written record as well as the online accounts, but several accountants I have worked for said I would be daft not to keep some written records.

  • To be honest forty-five years ago when I worked for my dad i did the accounts and wanted to pay one of the girls who went around the farms doing the accounts for farmers to do our, looking back it was probably one of the biggest mistakes we made not doing so.

    The girl I had in mind would have done them a lot faster and had more knowledge that me about accounting and everything else involved with them as she did it all daily and came into contact with others who shared knowledge with her.

    I did do an O-level accountancy course at college, which is an involved story as my original lecturer ended up in prison for defrauding HMRC and the Chancellor passed comment about him whilst presenting a Budget in Parliament as he changed the tax laws to tighten them up as a result.

    Looking back with hindsight, someone starting out should seriously consider getting a bookkeeper to prepare their accounts.

    I am actually sat doing my accounts as I say this!