VAT Registration and management of it

[Omega]

Hi all,

Question for those who are VAT registered. We're planning registration for VAT to go live as of spring next year.

My questions is this:

What systems do you use to track revenue which is compliant for making tax digital.

Issue I've been looking to work around is that in window cleaning we're dealing with a very high quantity of transactions.

For us window cleaners still cleaning residential, ordinary software like sage, quickbooks etc will have you inputting every clean as a transaction which is going to use a lot of time daily.

Even 20 minutes a day will be significant over the course of a month and then year. Currently our input of jobs cleaned takes no more than 1-2 minutes daily.

Do any of you who are vat registered use any bridging software for excel/ mac numbers or similar?

Or do you use a software which is complaint to digital vat returns but still user friendly for high transaction business?

We have trialled aworker and cleaner planner and found them too basic for cashflow forecasting and the detailed planning and analysis we do so these are out of the question.

Would be great to hear of your experiences with vat reporting since the recent changes and going digital within the last year.

Thanks in advance if you can provide any useful insight.  

 

[Shammy Davis Senior]

We use currently one of the bridging systems but Aworka now supports MTD. 

 

[Omega]

@Haychh Based on your size; how are you going about VAT submissions in conjunction with rounds management.

You seem very on top of the business side of things hence the shout out.

Love to hear your thoughts and what works for you.

 

[harunh]

@Haychh Based on your size; how are you going about VAT submissions in conjunction with rounds management.

You seem very on top of the business side of things hence the shout out.

Love to hear your thoughts and what works for you.

 We use cleanerplanner, does everything for you and has everything u need on it and for £25.00 per month you can not go wrong

The hardest part about going VAT registered is that you have to work twice as hard, Its not an easy ride

 

[Omega]

 We use cleanerplanner, does everything for you and has everything u need on it and for £25.00 per month you can not go wrong ?

The hardest part about going VAT registered is that you have to work twice as hard, Its not an easy ride

Can you submit your VAT returns through cleaner planner then?

 

[harunh]

Can you submit your VAT returns through cleaner planner then?

My accountant deals with all that, if you go VAT registered then i really suggest u get an accountant to do it all for u.... VAT can be very confusing and tricky.

 

[Omega]

My accountant deals with all that, if you go VAT registered then i really suggest u get an accountant to do it all for u.... VAT can be very confusing and tricky, Allowing to leave all that to the accountant enables me to concentrate on my businesss ?

I have an accountant. I also understand VAT and tax code fairly well I would say. The issue is selecting the best route to combine digital returns, scheduling and general data input on accounts in general based of our type of work and volume. Not simply picking any route that works.

However, my personal view is that it is important for you to have a firm understanding of it yourself in order to direct someone else to do it for you. Don't have to be the full blown expert but a decent working knowledge. Also, I don't want to duplicate work. The most efficient process from start to finish through proper investigation and testing is what will ensure the business runs as smoothly as possible. Our processing should be as seamless as possible to enable the other functions such as tax returns. This also helps the accountant do their job easily facilitating a better working relationship because you are working with each in mind.

Also, understanding of accounting will enable a business owner to make better informed decisions around planning and executing his/her business.

 

[harunh]

I have an accountant. I also understand VAT and tax code fairly well I would say. The issue is selecting the best route to combine digital returns, scheduling and general data input on accounts in general based of our type of work and volume. Not simply picking any route that works.

However, my personal view is that it is important for you to have a firm understanding of it yourself in order to direct someone else to do it for you. Don't have to be the full blown expert but a decent working knowledge. Also, I don't want to duplicate work. The most efficient process from start to finish through proper investigation and testing is what will ensure the business runs as smoothly as possible. Our processing should be as seamless as possible to enable the other functions such as tax returns. This also helps the accountant do their job easily facilitating a better working relationship because you are working with each in mind.

Also, understanding of accounting will enable a business owner to make better informed decisions around planning and executing his/her business.

Mate u should of been an accountant yourself i reckon ? , Id rather concentrate on making the business grow then sit there thinking which is the "best route to a VAT return" ,  And your telling me i should have a firm understanding of it for myself before i tell someone else to submit a return, trust me i have a very good understanding and to be honest its very straight forward but do i really want to be getting my head inbetween all the tax/vat/paperwork/hmrc stuff when my strengths are building the business? Nah... thats why i pay my accountant hes a professional at the job and he deals with all my paperwork ?

 

 

[Omega]

Mate u should of been an accountant yourself i reckon ? , Id rather concentrate on making the business grow then sit there thinking which is the "best route to a VAT return" ,  And your telling me i should have a firm understanding of it for myself before i tell someone else to submit a return, trust me i have a very good understanding and to be honest its very straight forward but do i really want to be getting my head inbetween all the tax/vat/paperwork/hmrc stuff when my strengths are building the business? Nah... thats why i pay my accountant hes a professional at the job and he deals with all my paperwork ?

 

I feel like you may have been offended by that. Sorry if that's the case. None meant.

I'm just saying that from my viewpoint, if I were taking a turnover of say 250k I would want to understand the process myself.

When I say 'you' should have a firm understanding it is meant in general and not aimed at you specifically although I can see how it could read.

Clearly you have experts within any business to take care of these things but I still personally think there should be an understanding from the owner.

As I said, it's my personal viewpoint. I don't want you to feel that I'm trying to tell you how you should run your business. Your clearly doing well and we all work differently. It we didn't it would just be like using an instruction manual and we'd all get the same results.

 

[harunh]

I feel like you may have been offended by that. Sorry if that's the case. None meant.

I'm just saying that from my viewpoint, if I were taking a turnover of say 250k I would want to understand the process myself.

When I say 'you' should have a firm understanding it is meant in general and not aimed at you specifically although I can see how it could read.

Clearly you have experts within any business to take care of these things but I still personally think there should be an understanding from the owner.

As I said, it's my personal viewpoint. I don't want you to feel that I'm trying to tell you how you should run your business. Your clearly doing well and we all work differently. It we didn't it would just be like using an instruction manual and we'd all get the same results.

Yeah i agree with u theres a lot of businesses that go bankrupt and cease trading and most of the times the reason they fail is because the owner has no understanding like u said

so how long have u been licking windows for ?

 

[Part Timer]

Just go fixed rate, will ease you into VAT