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Menu Update: New Tax menu

News posted by John Fouracre 1 year ago

Due to changes in preparation for MTD tax submissions, we are creating a new Tax top menu heading. The VAT return menu will be moving to this top heading with more to follow in future.

Current menu:

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Update:

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6 Replies

Thanks John - any plans to add a more accurate Corp Tax calculator?

I'm afraid not, no - sorry Paul, we are currently working on mass explaining Transfers on statements which should (fingers crossed) be ready by the end of the week.

Thanks John. What's happened with this idea? I was just about to create an idea posting myself regarding VAT, and noticed your posting.

In a similar way to your suggested Tax top-level menu, to make accessing the VAT Reports page easier to access how about changing the Dashboard's VAT panel?

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At present, both of the links in the first two boxes in the above screenshot take you to the same Transactions list, with the VAT account selected. How about changing the first link to go to the VAT Reports page? Then, all three links have different - and useful - purposes:

  1. 'VAT' navigates to VAT Reports
  2. The VAT owed '£ xxx.xx' amount navigates to Transactions on the VAT Account - no change
  3. The individual VAT return '£ xxx.xx' amounts navigates to the respective Purchase Bill - no change

It's only a minor change, but would make navigating to the VAT Returns page a little easier.

Question

Will we continue to be able to file VAT returns for Q2 2019 onwards as previously via CB (albeit with the new menu and process) and therefore be MTD compliant, or

Do we have to re-register clients for MTD via a new Client Services account? as we had to do for the pilot period?

Hi in the company we have 2 bank account one in euros and one in pounds I have added with cvs the bank statements of the 2 banks but how do i allocate and reconcile the euros account with the invoices and how do submit this to the HMRC? they only see pounds thank you in advance

You allocate the €uro Account the same way as the GBP account assuming you set up the €uro invoices in €uro.

CB converts all transaction entries into GBP so the VAT Return will always include the GBP equivalent of any €uro transactions

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