When HMRC’s new Making Tax Digital scheme comes into effect next April, businesses will be required to submit their VAT returns fully digitally and keep digital records.
While there will be many ways of achieving this with external accounting packages or spreadsheets, users of Bransom’s bsmart Accounts package will be able to use a new direct API link to submit their returns. Bransom clients who use the integrated extract to accounts packages such as Sage® 50, 100 and 200 or Xero® will be able to quickly and simply transfer the VAT data using these links.
This will save retailers a great deal of time and expense, since there is no need to manually update figures between systems.
Bransom’s comprehensive VAT reporting has won many fans amongst its user base for its accuracy and depth of reporting. The system calculates VAT correctly on deposits (especially if changed mid-purchase), credit notes, second-hand margin-scheme, Private Treaty and antiques. It also caters for EU purchasers - likely to still be required after Brexit – and produces Intrastat reports.
For a limited time, Bransom will be offering special upgrade packages for both existing and new customers, contact email@example.com for more information.
Sage® and Zero® are registered trademarks owned by the Sage Group PLC and Xero Limited respectively and are duly acknowledged.