i was hoping someone can advise me, i currently have on ltd company i do accounts for. Next year the CT600 will have to be online, i can manage that but i also have to submit the accounts on line, in an ixbrl (i think) format.
there seem to be lots of accounting packages that will do this but i dont want to spend any money for the sake of one client.
I think i heard that HMRC are releasing something that would enable me to submit simple accounts. is this true and has anyone had any experience with it?
You can now use the HMRC website to file both the accounts and the CT return at the same time. You create the accounts within the (free) software and hey presto all done, no need for iXBRL or other expensive packages.
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Jenny
Responses are my opinion based on the information provided. All information should be thoroughly checked before being relied on.
There is a lot of FUD spread by (many) software companies about filing online and that you must have some kind of (ie. their) special software. They are using the oldest marketing trick in the book, fear.
Here's the reality. There is no law that says you must use software. Until there is, neither HMRC or anyone else can force you to use software to file (or even do) your accounts using a computer. The majority of accounts are still done on a spreadsheet (last time we did a survey it was around 50%, but as software gets easier that figure will be declining). So, will Microsoft (et al) suddenly release a UK specific HMRC uploader? Not anytime this side of the next millenium!
When HMRC say you MUST file online by such and such a date, all they are saying is that you need a computer (your library has one if you don't) to log in and enter your data. What they are stopping is the paper format, that is all.
Does anyone remember when HMRC said you could have a tax refund if you filed your PAYE online a few years ago? What happened, some software companies started claiming that if you bought their software you would get a massive rebate (as though it was courtesy of them). They pushed the same FUD that you needed special software to file online too! What a cheek.
Maybe I am cynical, but if there is one thing I have learnt about corporates it is that their marketing departments are kept as far away as possible from development (and reality).
Thanks so much for saying that you can file on-line using HMRC's software. Anyone got an easy link?
The iXBRL has thrown a lot of people into confusion and software companies have rushed to get theirs compliant, so capitalising on the situation.
Bugs me. I mean, I am looking to get some accounts software shortly (shopping around) as I'm never wholly satisfied with excel accounts, but knowing there is free software c/o HMRC makes the decision much easier.
There is a lot of FUD spread by (many) software companies about filing online and that you must have some kind of (ie. their) special software. They are using the oldest marketing trick in the book, fear.
Here's the reality. There is no law that says you must use software. Until there is, neither HMRC or anyone else can force you to use software to file (or even do) your accounts using a computer. The majority of accounts are still done on a spreadsheet (last time we did a survey it was around 50%, but as software gets easier that figure will be declining). So, will Microsoft (et al) suddenly release a UK specific HMRC uploader? Not anytime this side of the next millenium!
When HMRC say you MUST file online by such and such a date, all they are saying is that you need a computer (your library has one if you don't) to log in and enter your data. What they are stopping is the paper format, that is all.
Does anyone remember when HMRC said you could have a tax refund if you filed your PAYE online a few years ago? What happened, some software companies started claiming that if you bought their software you would get a massive rebate (as though it was courtesy of them). They pushed the same FUD that you needed special software to file online too! What a cheek.
Maybe I am cynical, but if there is one thing I have learnt about corporates it is that their marketing departments are kept as far away as possible from development (and reality).
