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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’.