Connect with us

Finance

The Definitive Guide to MVD Bridging Software – What Every Accountant in Practice Needs to Know

The Definitive Guide to MVD Bridging Software – What Every Accountant in Practice Needs to Know

Guide highlights ten of the most suitable products for accountants – download it now

As part of its commitment to support the accounting profession in the transition to Making Tax Digital (MTD), MyFirmsApp has commissioned a leading tax writer, Allison Plager, to produce an independent and definitive guide to MVD Bridging Software. MVD Bridging Software provides a digital means of moving information to a VAT return to comply with MTD for VAT.

The Definitive Guide to MVD Bridging Software – What Every Accountant in Practice Needs to Know

The Definitive Guide to MVD Bridging Software – What Every Accountant in Practice Needs to Know

The ‘Definitive Guide to MVD Bridging Software’ filters down the available choices to ten of the most suitable products for accountants.  In the introduction, author, Allison Plager refers to accountants being presented with a ‘baffling array’ of solutions with some aimed at businesses rather than accountants or vice versa or both.

“We believe that there is a gap in the market for an independent reference guide that will dispel confusion for accountants in practice,” explains Mike Page, Head of Product Management and Customer Experience at MyFirmsApp, the first and original developer of bespoke Apps for Accountancy firms. “HMRC has published a list of recognised suppliers on its website but other than that, offers virtually no guidance on each product. Our intention is help create order out of the chaos and to give a flavour of what’s available in the market,”

“This is an exciting time for tax,” says Allison Plager, an award-winning journalist and author of an annual taxation technology supplement.  “There has been some controversy leading to MTD for VAT implementation and many businesses – and accountants – are likely to feel anxious about the new way of working. However, it is not a time to sit back. Accountants should make sure that not only do they have the right tools to operate MTD for VAT, but so do their clients. After everything is up and running, having to do less compliance manually should free up time to offer clients more and better value-added services.”

MTD for VAT became a reality on April 1st, 2019, when most VAT registered businesses with a taxable turnover above the VAT threshold were faced with using software to submit their VAT returns to HMRC. As Mel Stride told MPs in his statement: “There is no cliff edge on the 1st April; that is the date at which companies are required to keep digital records, but for most companies the first time they will have to submit a VAT return under MTD will be for the first tranche around the 6th August and for subsequent tranches in the months following that date.”

The ‘Definitive Guide to MVD Bridging Software’ features reviews of the ten key bridging software packages and includes contact details, a guideline of price and recommended specifications along with important information regarding those VAT registered businesses that have a deferred date of the 1st October 2019.

Download the guide here:

https://www.myfirmsapp.co.uk/making-vat-digital/

Editorial & Advertiser disclosure
Our website provides you with information, news, press releases, Opinion and advertorials on various financial products and services. This is not to be considered as financial advice and should be considered only for information purposes. We cannot guarantee the accuracy or applicability of any information provided with respect to your individual or personal circumstances. Please seek Professional advice from a qualified professional before making any financial decisions. We link to various third party websites, affiliate sales networks, and may link to our advertising partners websites. Though we are tied up with various advertising and affiliate networks, this does not affect our analysis or opinion. When you view or click on certain links available on our articles, our partners may compensate us for displaying the content to you, or make a purchase or fill a form. This will not incur any additional charges to you. To make things simpler for you to identity or distinguish sponsored articles or links, you may consider all articles or links hosted on our site as a partner endorsed link.
Global Banking and Finance Review Awards Nominations 2021
2021 Awards now open. Click Here to Nominate

Recommended

Newsletters with Secrets & Analysis. Subscribe Now