- They can no longer submit paper VAT returns or make their VAT return online via the HMRC website
- Paper based bookkeeping must stop – it must be “digital,” says the law – which means a spreadsheet is fine as long as you have a method of getting this into the HMRC web based servers.
It’s all part of HMRC’s program of Making Tax Digital (MTD) aimed at cutting the VAT gap between what HMRC thinks they are owed and what they actually collect.
Estimates vary but it’s thought that they lose millions of pounds a year. Some of this is through mistakes but some will be through fraudulent activity.
The only problem is that there are an awful lot of VAT registered small and medium sized businesses (“SMEs”) who are extremely concerned because they do their bookkeeping on paper ledgers and/or:
· don’t have the money to pay for a new computerized accounts system
· don’t like the idea of their accounts information being stored on the “cloud” with some tech firm
· don’t want to pay their accountants more money just to complete a VAT return
Coming to the rescue is HeatingSave, an award-winning software company.
“We had to write the software for our own internal accounting systems,” said HeatingSave’s director Nigel Smith. “So, we decided go one step further and provide it free to SMEs. Our HeatingSave system is aimed at SMEs, so why not help them cut their accountancy costs too?”
HeatingSave say that the software is “dead easy to use,” – they even provide the spreadsheet for you to download and fill in. Their software then pushes this up to the HMRC web servers and gives you a message back to say that they have received it.
It’s quick, simple, and completely free.
When they aren’t making life easier for SMEs up and down the country, HeatingSave manufactures retro-fit heating controllers to cut 20%+ off heating costs.
“We don’t normally write accounting software, but we do have a lot of very clever computer programmers, so we decided to develop our own Making Tax Digital (MTD)-compatible Software Application for VAT Returns,” Nigel Smith said.
So what’s the catch? Why are they doing this for nothing? “Well, it doesn’t really cost us anything and you never know – some of the SMEs might consider buying HeatingSave to cut their rising heating and energy bills!” Nigel said in conclusion.
If you would like to try out the Free MTD software supplied by HeatingSave, visit https://www.heatingsave.co.uk and click on the MTD free button.
HeatingSave is part of the Tensor plc group of companies, holding both the NACOSS Gold and the ‘Secured by Design’ certifications. In order to achieve the NACOSS Gold certification, Tensor plc proved that it complied with the requirements set out in BS EN ISO 9001:2008, NSI SSQS 101, NSI NCP 109, NSI NCP 104, PD6662:2010 and BS 7858:2012. It also demonstrated that it’s a financially stable and independently security-vetted company, properly insured and working to a formal and third party accredited quality management system.
A member of the “Made in Britain” initiative, Tensor also holds the Cyber Essentials certification endorsed by the UK Government, which ensures that security controls are in place and working effectively ensuring risks are mitigated from online threats through the secure configuration of an organisation’s computing resources.
US President Donald Trump Photo: REUTERS WASHINGTON: S President Donald Trump sa [ ... ]
Two boys, part of a group of Hungarians visiting a mosque to learn about the Muslim [ ... ]
A photograph taken on November 5, 2015, shows volunteers of a cow protection vigilan [ ... ]
The WhatsApp messaging application is seen on a phone screen August 3, 2017. PHOTO: [ ... ]
PHOTO: AFP The divisional commander and nephew of the chief of Jaish-e-Mohammad, w [ ... ]
Page also said that he had proposed in May 2016 that Donald Trump travel to Russia t [ ... ]
An investor gestures as he monitors a screen displaying stock information in Riyadh, [ ... ]
PHOTO: EXPRESS MUZAFFARABAD: ommander 10 Corps Lieutenant General Nadeem Raza, o [ ... ]
US President Donald Trump and South Korea’s President Moon Jae-in shake hands duri [ ... ]
People are silhouetted against a backdrop projected with the picture of various curr [ ... ]
All depts given 10 days to submit their list of vacant posts. PHOTO: FILE ISLAMAB [ ... ]
PHOTO: PPI KARACHI: n accountability court reserved judgment on Monday on an app [ ... ]
Officer had been beaten up by protesters in 2014, was later suspended by govt. PHOTO [ ... ]
ISLAMABAD: t seems like multiple marches on the capital and massive protests thr [ ... ]
PML-N leadership continues to woo PPP support. PHOTO: ONLINE ISLAMABAD: t a [ ... ]
Child receives polio vaccination drops PHOTO: REUTERS LAHORE: unjab Primary and [ ... ]
Three-day conference on Iqbal commences. PHOTO: FILE ISLAMABAD: llama Iqbal rais [ ... ]
Foreign Minister Ahsan Iqbal. PHOTO: EXPRESS/FILE PESHAWAR: akistan’s economic [ ... ]
Last week, the Judicial Commission of Pakistan approved the elevation of eight judg [ ... ]
Bilawal Abro says the authority is working to eradicate adulteration and ensure food [ ... ]
EXPRESS NEWS SCREEN GRAB ATTOCK: akistan Tehreek-e-Insaf (PTI) Chairman Imran Kh [ ... ]
Just hours after the death of Mansour bin Muqrin, the son of former Saudi crown pr [ ... ]
Two men open fire on their wives and alleged paramours in separate incidents. PHOTO: [ ... ]
Iranian President Hassan Rowhani greets Army Chief General Qamar Javed Bajwa in Tehr [ ... ]
Three persons have also been apprehended along with the vehicle where the arms and a [ ... ]
Hira Akbar. PHOTO: Express SWAT: ourteen-year-old Hira Akbar has become the sec [ ... ]
PHOTO: File Leader of the Opposition in the National Assembly Khursheed Shah said [ ... ]
Traditional folk artists perform during the 274th urs of Shah Abdul Latif Bhitai. PH [ ... ]
The two male lions at the Masai Mara and Dr Ezekiel Mutua. PHOTO COURTESY: Nairobi T [ ... ]
PHOTO: AFP MARSEILLE: arseille said on Friday they had opened an inquiry after d [ ... ]
LAHORE: t is ironical to see that the same members of the provincial assembly of [ ... ]
KARACHI: he stock market hit a roadblock again on Thursday as investors failed to carr [ ... ]
Kate was treated last month for a severe form of pregnancy sickness. PHOTO: REUTERS [ ... ]
Islamabad High Court (IHC) Justice Shaukat Aziz Siddiqui. PHOTO: MUHAMMAD JAVAID I [ ... ]
North Korea, known for its florid insults, has described US President Donald Trump a [ ... ]
An Uber sign is seen in a car in New York, U.S. June 30, 2015 PHOTO: REUTERS Far-r [ ... ]
Outside the arcane world of finance reporting few will have been following the tal [ ... ]
In the first palpable sign that it is willing to accept the ineligibility of Nawaz [ ... ]
PHOTO: PPI QUETTA: nior Superintendent Police of Traffic Nazeer Kurd said on [ ... ]
Supreme Court of Pakistan. PHOTO: AFP/FILE ISLAMABAD: he National Party, an ally [ ... ]
The authority will incur up to Rs1 million in losses. PHOTO: EXPRESS ISLAMABAD: [ ... ]
PHOTO: AFP Questions regarding who earns what in cricket and who is the highest pa [ ... ]
PHOTO: FILE ISLAMABAD: he Employees Old-age Benefits Institution (EOBI) has cut [ ... ]
PHOTO: MQM-P Rejecting the results of the 2017 census, Muttahida Qaumi Movement-Pa [ ... ]
Representational image of a disabled person in a wheel chair. PHOTO: REUTERS LAHOR [ ... ]
According to the National Nutrition Survey, nearly 40 per cent of the children in S [ ... ]
PHOTO: FILE Atif Aslam’s jdar-e-Haram opened the eighth season of Coke Stu [ ... ]
That water is a critical resource for Pakistan and for all countries in the world [ ... ]
PHOTO: AFP BEIJING: hina wants Pakistan to seize the opportunity provided by CPE [ ... ]
The writer is a development anthropologist. He teaches at George Washington Universi [ ... ]
The head of the Russian foreign ministry's security and disarmament department Mikha [ ... ]
ISPR says suspects were involved in recent terror activities in Punjab. PHOTO:: EXPR [ ... ]
DPO vows fair probe of incident. PHOTO: FILE ABBOTTABAD: plastic surgeon who wa [ ... ]
Advisor to CM says they will try to resolve the issue within a week. PHOTO: FILE P [ ... ]
Iqbal Zafar Jhagra says police need to adapt to the changing scenario. PHOTO: FILE [ ... ]
KARACHI: he Sindh and federal government are embroiled in Pakistan Steel Mills’ land [ ... ]