ACTION REQUIRED: VAT return submissions through Sage affected
From 14th February 2018 an important change with the HMRC VAT Gateway portal has come into effect and businesses who are running older versions of Sage, and use Sage to submit VAT Returns are affected.
Sage has advised us that the Electronic Data Interchange (EDI) will be decommissioned and all existing services will migrate to a new platform. To accommodate the changes, Sage will be updating the latest version of Sage 50 Accounts only.
Therefore, users of older versions of Sage will no longer be able to submit their VAT Returns directly from their software and for those users wishing to continue to submit their VAT returns via their accounting software will need to take action.
What happens now?
Users of older versions of Sage will still be able to submit VAT returns manually but please bear in mind that at present, businesses with a turnover above the VAT threshold (currently at £85,000) are set to be affected by the new Making Tax Digital legislation for VAT from 1st April 2019.
When the new Making Tax Digital rules come into force, affected businesses will need to keep certain information in a digital format and will no longer be able to submit VAT returns manually.
What action should I take?
If you take advantage of our VAT services and support, you won’t experience any changes.
But, if you do submit your own VAT returns you will need to think about upgrading your Sage software to the latest version or consider the advantages of switching to an online accounting package moving forward.
We can help
If you need advice, please do not hesitate to contact our team of experts to discuss your accounting software options.
As an accredited Sage Accountant Partner, Naylor Wintersgill are resellers of a range of Sage products at heavily discounted prices.
We’re also proud to partner with two of the leading cloud accounting software providers Xero and QuickBooks and have a number of certified advisors on hand who are best placed to demonstrate and recommend a package that’s right for you and your business.
To book a free software demo or to simply find out more about accounting in the cloud click here.
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