Springboard IT’s Making Tax Digital Solution passes HMRC checks

Springboard IT have cleared the final hurdle with HMRC that allows their Making Tax Digital VAT solution to communicate directly with the HMRC VAT Submission Service.

The solution is available as an Excel Addin or an embeddable utility.

This allows to Springboard IT help the following groups become Making Tax Digital compliant:

  • Organisations who already do their accounting on Spreadsheets and do not wish to change or those whose VAT arrangements are too complex to fit easily within a single system
  • Organisations with bespoke software for calculating VAT can use the Springboard IT solution to send VAT return data extracted from those systems direct to HMRC.
    • They can save the cost of writing a program to connect to HMRC, and save the cost of passing the HMRC checks
    • In some instances, it may be possible to embed the Springboard IT solution directly in the bespoke application. This requires a technology match (Microsoft based) between the Springboard IT utility and the bespoke solution
  • Organisations with non-compliant older versions of standard accounting software (e.g. Sage and Quickbooks Desktop) can use the solution to make those systems compliant.
    • This is not recommended as stepping off the upgrade treadmill carries business risk
    • The solution can be a cost-effective temporary measure until ready to make the leap to a new version at an organisation’s own convenience
  • Springboard IT are happy to “hand hold” organisations who currently use manual ledgers and for whom a jump to Excel is considered sufficient.

Springboard IT’s solution is referred to as Bridging software by HMRC which may sound like a temporary solution (as in bridging loan) but is in fact a permanent solution (as in Clifton Suspension Bridge) between existing software and HMRC.

It should be noted that HMRC recently made the decision “to delay mandation” for “a small minority of VAT-registered businesses with more complex requirements”. That delay is until 1st October 2019. They estimate that this delay applies to about 3.5% of mandated customers.

Springboard IT are happy to discuss MTD compliance with any Chamber Members.

The website for the solution is here: https://makingtaxdigitalsolution.co.uk/