If you use Excel (or any other spreadsheet) to keep your business records, and your business is VAT registered with a taxable turnover of more than £85,000, you will need bridging software to comply with HMRC's Making Tax Digital (MTD) for VAT.
Using a spreadsheet to keep your business records is an accepted way for you to comply with MTD for VAT. However, spreadsheets such as Excel do not enable you to submit your 9 VAT figures to HMRC so this is where bridging software such as Easy MTD VAT saves the day. The software sits between the Excel spreadsheet and the MTD for VAT system and enables your 9 VAT figures to be submitted digitally to HMRC.
Importing VAT figures from Excel into Easy MTD VAT then submitting to HMRC
Easy MTD VAT is a windows application approved by HMRC for use with their MTD for VAT system. It enables VAT returns to be digitally submitted in just a few clicks. It also allows you to view VAT obligations, liabilities and payments that are held by HMRC.
Easy MTD VAT interface showing VAT obligations, liabilities and payments
Even if you use another spreadsheet or software that is not MTD for VAT compliant, as long as it can export your VAT figures to Excel (or a CSV file) you can use Easy MTD VAT to submit your VAT returns.
If you don't already have an Excel spreadsheet then download one of our templates. These enable you to input your sales and expense and automatically calculate the 9 box figures of a VAT return ready for submitting to HMRC using Easy MTD VAT.
Click here to find out more and to download Easy MTD VAT so you can start submitting your VAT figures held in an Excel spreadsheet today!
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