Question asked by Brian Rush 6 years ago
Hi not sure if anyone can answer this one here but with the new MTD coming soon I was wondering if we can still summarise our sales in batches as we have in the past? We are a small garage so at the end of the day we summarise the total card sales as a whole and input it as 1 total sale is this going to acceptable from April or will every sale line and customer etc have to be recorded in real time? thanks in advance Brian
Hi Brian - I'm pretty sure that, as with the current "retail schemes" rules you can only summarise daily "retail" sales in this way, which I would imagine applies to you but if, for example, you carry out car repairs or other services for another VAT registered business and so have to render a VAT invoice, these have to be recorded separately.
Hopefully your accountant will confirm this but feedback if not.
Best answerThanks, Paul so we generate customer invoices print and give them a copy these come from a third party garage management software. then each day we summarise them and enter them as a batch is this ok do you think? We keep paper copies of all invoices and purchases with card slips attached etc.
Thanks, Tommy I have emailed my accountant.
Hi Brian,
I can't seem to find any specific reference regarding MTD and granular transactions. As long as the current method is compliant with the current VAT submissions, I believe you can continue to summarise sales in batches. However, I would advise double checking this with an accountant.
Tommy
You must 