How does MTDfVAT Hub work and what does it look like?
Flexible and user-friendly MTD for VAT bridging software for you
MTDfVAT’s MTD for VAT software is a cloud-based, Software as a Service (SAAS) product. It gives handy MTD for VAT bridging software functionality to enable compliance, but also without disruption to you and your clients’ existing accounting systems and processes.
MTDfVAT Hub Control Centre
MTDfVAT Hub has the following features
- Management Dashboard
- Control of submissions for Companies or Individuals
- Vat report centre
- Dashboard view of your obligations
- Dashboard view of all return payments and receipts
- validates and submits VAT data in an MTD-compliant format to HMRC at the touch of a button
- gives a window view of the organisation’s/sole trader’s MTD VAT payments and refund history
- has spreadsheet-friendly functionality – irrespective of how those are set up and what spreadsheet software is used. The software draws the data in digitally from the spreadsheet into an MTD for VAT compliant format for submission to HMRC with validation checking
- has a quick online client authorisation process with HMRC
- Seamlessly integrates with VT Software
- It will accept CSV imports from Sage and other bookkeeping packages, and we are currently working with other providers to bring this about.
One of HMRC’s recognised compatible software providers. Our MTDfVAT Hub Solution has satisfactorily…
- Tested in HMRC’s test environment
- Already demonstrated a working solution to HMRC
- Proved they are able to comply with HMRC’s rules and guidelines
From 1 April 2019, the bulk* of VAT-registered businesses with a taxable turnover above the VAT threshold (currently £85,000) need to:
- Keep their records digitally (for VAT purposes only), and
- Provide their VAT return information to HM Revenue and Customs (HMRC) through Making Tax Digital (MTD) functional compatible software
*Note: Roughly 3.5% of VAT-registered entities will be mandated into MTD for VAT from 1 October 2019 instead. These represent organisations with more complex VAT arrangements – find out more in our section Does This Affect You?