My Digital Bridge – Making Tax Digital
Making tax digital (MTD) is a HMRC initiative that means that VAT returns from April 2019 will need to be filed through software. It applies to all businesses that are above the VAT threshold and filing through government gateway will no longer be an option.
Keep your spreadsheets
Does this mean that you need to stop using spreadsheets to prepare your VAT returns? No! Bridging software like My Digital Bridge allows you to keep recording your transactions on a spreadsheet, and file a VAT return that is MTD compliant.
My Digital Bridge step by step
How it works
Simply sign up to our service and create an account.
Grant the software access to access your HMRC account via our software.
Download our spreadsheet template and link the 9 box values to your existing spreadsheets transactions.
Pay before submitting your return.
Accountants with more than one client submitting through the bridging software can set up their own account and manage multiple clients at once using their login. Sign up using the Accountants sign up button below.
Pricing
Our software is free to accountants and 40p per submission for businesses wanting to join the HMRC pilot before April 2019! We strongly recommend submitting an MTD compliant VAT return prior to the mandatory deadline.
Businesses
£20
per VAT return
Accountants
£200
per month
for up to 50 companies
Signing up to MTD
To register for MTD use the following link: https://www.gov.uk/guidance/use-software-to-submit-your-vat-returns.
Click on the Sign up for Making Tax Digital for VAT link on HMRC’s web page and follow the on-screen instructions to register.
Once you have submitted the request, HMRC will email confirmation within 72 hours. You will not be able to submit a VAT return through My Digital Bridge until you have received confirmation.
Making Tax Digital with My Digital Bridge
My Digital Accounts have developed My Digital Bridge as a bridging solution to Making Tax Digital (MTD), the initiative to submit your VAT returns through an alternative HMRC portal.
All VAT returns submitted for quarters beginning on or after, 1st April 2019 (where the VAT payer’s turnover exceeds £85,000) have to be submitted using HMRC’s new MTD platform. Making Tax Digital (MTD) is a HMRC initiative that means that VAT returns from April 2019 will need to be filed through software, the old government gateway will no longer be an option.
The new guidance means that you can continue using spreadsheets to prepare your VAT returns. Bridging Software allows you to keep recording your transactions on a spreadsheet and file a VAT return that is MTD compliant.
Bridging software is available in the market to individuals who want to avoid moving to accounting software. It allows you to submit VAT returns by simply ‘keying’ into the bridging alternative (usually Excel based) this gives accountants a ‘soft landing’ in 2019.
