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Software changes at HMRC, will they affect your business?

Software changes at HMRC, will they affect your business?

Early next year, HMRC will be decommissioning their existing platform for information exchange and migrating to a new platform.  All electronic returns must be made via this new platform from then.

What does this mean for you?

If you currently submit your VAT return through your accounting software, you should check with your software supplier that this will still be possible on the new platform.

If it won’t, don’t panic – you have various options including:

• Upgrade with your existing supplier, if available.  For example, Sage 50 users can currently take advantage of various offers available until the end of September, which are particularly attractive for users who haven’t upgraded for some time.

• Change software provider.  If no upgrade is available, or if it’s very expensive, this may be a good time to think about moving to an internet-based package which would avoid upgrades altogether.

• As a stop-gap, you will be able to continue producing the figures as you do now, but will have to manually input them to the new platform via the Government Gateway.

If you want help deciding what to do, or for more information, contact Jennifer Davies on 01484 550030, or email jennifer.davies@revellward.co.uk

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