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Post Info TOPIC: VT FINAL ACCOUNTS


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VT FINAL ACCOUNTS
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I was just wondering whether this software produces the SA return in the format required by HMRC or does it have to be inserted into a tax software.

Thanks

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Expert

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Hi Louis

It doesn't link to HMRC directly.

VT exports directly into most of the common SA Tax software but you can select a specific template for self employed/ sole trader that produces an easily transportable set of accounts that can be manually entered using the HMRC software (creates the accounts using the same headings as HMRC).

Haven't actually used the facility myself but that's basically what is says in the instructions

HTH

Bill

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Thanks Bill.

So VT actually calculates the accounts for you, so all you need to do is copy onto your SA return?



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VT Final Accounts will produce sets of final accounts for you to print off and do what you like with.

In order to then use the info for returns etc, you will need to export it into that software to then upload to HMRC. They recommend BTC? (I think) which looks pretty good.

Now with the move to XRBL or whatever its called, anyone wanting to be Corp Tax returns etc will need to use this type of software and no doubt SA will follow that rule of thumb.

P

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