we've made VAT E-filing EASY

The standard BusinessGT system has a free* electronic VAT filing method. 


You may use the electronic filing for VAT even if you do not use BGT as your accounting system.


If you prefer to continue doing accounts on paper or spreadsheets: 

THAT's FINE. (see below - "What's happening at HMRC")


Thousands of people will do this in 2019. 


The BusinessGT system provides a sales invoicing system, 

full Accounting, Cash Flow, Project Management, Email,

Email campaigns, Web site, SEO facilities, Inbound lead generation. 


* The whole system costs nothing for micro-business users

If you need to file VAT you simply have to have 10 credits in the system: 

Buy credits in multiples of 24 for £25 + VAT. 


Charging is based on your actual volume of usage:

1) For every 500Mb of bandwidth monthly and processing, 

2) 500Mb of storage monthly, you are charged 1 credit,

3) After the first 100 emails per day, 1 credit per 100 emails.


Get your BGT system first - buy credits when you need them.




 1904_VATreturnFilingGuide.pdf

 
 
 
Videos - How to file your VAT, How to get your own BusinessGT system

How to file your VAT: it will take under 10 minutes if HMRC know you want to go digital: here's a 6 minute showing the steps : 




How to get your own BGT system: it takes less than 5 minutes - here's a one minute video showing it:


 
 
 


Using the Business GT Emergency VAT filing pages



If you run your accounts in a spreadsheet or some other accounting system that does not provide online VAT filing, you may simply input your data into the "Emergency VAT filing" page, and file online very simply. 



The whole process takes less than 10 minutes. 





Using the full BusinessGT Accounting System




Raise Sales Invoices and email them (or just process them into the accounts), process Purchase Invoices and journals. Go to the VAT Manager pages and complete the calculations depending whether you are on a standard VAT scheme or a CASH Accounting scheme. Click SAVE when you have the data correctly computed.



BGT offers Standard and Cash schemes at the moment. 



Then, in the History page, click on the "Submit" button.

You will need your HMRC Username and Password - but just follow the in-page instructions and BGT will file your VAT return for you. When it is successful, the successful information will be stored in the system and held for as long as you need it in the system (just keep enough credits in there). 



BusinessGT does not keep any information about you personally - we especially do not want to keep your tax logon information. 



 1904_VATreturnFilingGuide.pdf

 
 
 
What is happening at the HMRC?



By 31/3/2020 HMRC are putting in new rules which mean that your accounts have to be operated digitally - this means that once you have raised a sales invoice or processed a  purchase invoice you may only transfer it electronically - no hand input thereafter.  You can transfer files around, but not with manual input. 

How will HMRC know? Well, they won't unless they come asking. The HMRC now use so called Artificially Intelligent software called "Connect" and this looks for discrepancies, seeks the unusual, and is being used to uncover fraud, irregularities and illegal cash based businesses. Don't under-estimate the power of this. Soon they will want to receive the invoice details of your large customers - so they can see that VAT is being paid properly. HMRC believe that small business is failing to pay more than £5bn in tax: so for them it is not a small issue, at all. 



Currently VAT is in a "Soft Landing Environment" in which business does not have to fully follow the rules - but by April 2020, you will.



Our advice is that business owners should keep their business on the straight and narrow, so avoiding the additional worry and cost caused by HMRC investigations. 



So you can either:


  • Use a cloud based accounting system (like Quickbooks, Xero or BusinessGT), there are others but they are not so good (we have not met any business owner who actually likes the Sage system).
or


  • Get your offline system to connect to HMRC directly (if you need software, talk to us about it - we have some),
or


  • continue to use your existing systems; take export files of sales and purchases, import them into BusinessGT, and produce your VAT return in our system. 
or


  • Use a "bridging" system (with some similarities to BusinessGT) and arrange imports into that system, to produce your VAT return. 


We recommend you sign up to BusinessGT - so that you can find out if you like it; take a look at the accounting, CRM, and email campaigns. Understand that pricing is based on free access up to 500Mb Storage and Bandwidth per month, and importantly your unlimited access - there is no user based pricing.



BusinessGT is a better alternative to Quickbooks, Xero, Sage  and other accounting packages - and it is also a better CRM than SalesForce for most business - simpler, quicker, more effective.  





 1904_VATreturnFilingGuide.pdf