Your funds will be held in one or more segregated bank accounts with a regulated third party credit institution, in accordance with the provisions of the Electronic Money Regulations 2011. The Card is issued by PayrNet Limited pursuant to license by Mastercard International Inc. Mastercard is a registered trademark, and the circles design is a trademark of Mastercard International Incorporated. Registered Office – Brunel House, 2 Fitzalan Road, Cardiff, Wales, CF24 0EBĪbsolutely No Nonsense Admin Limited is a distributor of PayrNet Limited which is an Electronic Money Institution authorised by the FCA under the Electronic Money Regulations 2011 (EMR's) with Firm Reference Number 900594. There are six simple steps to follow to file your VAT Return using Google Sheets™ And the good news is that if you already use Google Sheets™ to record your VAT, you can easily file your VAT Return straight to HMRC with ANNA’s free add-on. More and more businesses are using Google Sheets™ as a free cloud-based alternative to traditional spreadsheet software. In fact, lots of small businesses already prepare their VAT Returns on a spreadsheet and don’t want to transition to a large software package – they just need an API to bridge the VAT Return calculation to HMRC for submission. However, a lot of it comes with an eye-watering price tag, and businesses may not need every single element of the software they’re sold. There is a lot of compatible software out there that complies with MTD requirements. The hope is that in the long run, this type of application will help avoid human errors and will provide a faster and more efficient method for submitting your VAT return online. This maintains an unbroken digital link between your VAT return and HMRC – what you put into your software goes directly to HMRC. This sounds complicated, but it just means that there’s a direct connection between the two applications, so they can talk directly to each other. Making Tax Digital means VAT-registered businesses are legally obliged to submit their VAT returns using compatible software with an application programming interface (API). What does complying with Making Tax Digital mean? So if you’re a VAT registered business, no matter your turnover, you now need to comply with Making Tax Digital. ![]() Since April 2022, this requirement has expanded to include any VAT-registered business irrespective of their turnover and their VAT threshold. All VAT-registered businesses are now affected This meant they needed to maintain their business records digitally and had to file their VAT returns using HMRC-compatible software. What does complying with Making Tax Digital mean?įrom April 2021 all VAT-registered businesses that exceeded an annual VAT threshold of £85,000 were required to register for MTD.All VAT-registered businesses are now affected.
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