Making Tax Digital (MTD) for VAT

Making Tax Digital (MTD) for VAT introduction

How to use Making Tax Digital (MTD) for VAT functionality. Introduction. This app is MTD ready and is HMRC recognised for MTD. We aggregate and calculate your VAT as ‘live’ using the transactions you…

General VAT settings

Here is a summary of the various VAT settings.

VAT details

VAT Details. VAT registration number: entered here. HMRC VAT scheme: Choose between the annual, quarterly and monthly VAT schemes. VAT period ending group: HMRC will advise what your VAT quarters are…

Authorising MTD for VAT

Authorising Making Tax Digital (MTD) in your app. Before authorising this app for MTD for VAT, you should ensure that your business or accountancy firm has registered for MTD with HMRC. Visit the HMR…

VAT rates

VAT rates. To apply required UK VAT rates in IPA Books+, VAT codes are used. The standard codes are: VAT code Name VAT rate S Standard 20% R Reduced 5% Z Zero rate 0% X VAT exempt 0% AJS VAT adjustme…

Populating your MTD for VAT return

Populating a VAT return. Each VAT return is populated using the transactional information already entered into the system. This means no additional work is required. It is important that you ensure t…

VAT reports

Viewing VAT reports. To view the VAT reports, from the main vertical menu expand Reporting. Then select Reports Centre. From the ‘Categories’ drop-down menu, select VAT. You can then 'Generate' the m…

Preparing and submitting a VAT return

Preparing and submitting an MTD for VAT return. To prepare an MTD VAT return, from the vertical menu expand VAT and then select VAT Return Manager (MTD). The VAT Return Manager (MTD) will check with…

Re-authorising MTD for VAT.

Re-authorising Making Tax Digital (MTD) for VAT. In line with HMRC guidelines, you will need to re-authorise this application for MTD every 18 months. You can check your re-authorisation date easily.…

Powered by HelpDocs (opens in a new tab)