Making Tax Digital

You may or may not already be aware of the Making Tax Digital changes in which the government are implementing from April 2019, businesses must be using a software which is connected to the HMRCs API for submissions. (Link provided at the bottom of this article)

Sage have completed work to support the HMRC BETA which is included in the Sage 200cloud Spring Enhancements 2018 release, which may not be the version your business is currently using. 

Sage do not have plans to change old versions of the software, these changes will only be available in the Spring Enhancements release and onwards. 

However, Sage have in the meantime released a new Making Tax Digital Submissions module, which will provide businesses on previous versions the ability to comply with the mandate without upgrading before April 2019.  

There are a few options available to businesses in order to be ready for April 2019, we have listed these below. 

1. Stay on the existing version of Sage 200 and purchase the Making Tax Digital Submission module, the price of this varies depending on the version of the current software and the month of purchase.
2. Stay on the existing version and do not purchase the Making Tax Digital Submission module – Sage will then charge an additional Making Tax Digital Service charge per year (on top of the Sage Annual Licence Plan cost), until the latest software version is used or a purchase the Making Tax Digital submissions module is made*.
3. Upgrade to the latest version – Which for many businesses is by far the best and most cost-effective (in the long run) option to take.

*Exclusions can apply should you believe to be exempt from this charge, evidence will need to be supplied.

 Reality Solutions are urging customers and business around the UK to thoroughly check your current system compatibility. 

We are happy to speak with any businesses who would like further information in regards to charges that your business may face. If you wish to do so please contact us on 03300 160565 or email sales.team@realitysolutions.co.uk

Please note: Reality Solutions are urging our customers to consider this as early as possible to allow plenty of time for the work to be carried out between now and April 2019.

Sources:
Gov.uk – Making Tax Digital Overview: www.gov.uk/government/publications/making-tax-digital/overview-of-making-tax-digital