Hi Maf Thanks for your response.
Have a look at HMRC website for more info: https://www.gov.uk/government/consultations/making-tax-digital-for-business-an-overview-for-small-businesses-the-self-employed-and-smaller-landlords <https://www.gov.uk/government/consultations/making-tax-digital-for-business-an-overview-for-small-businesses-the-self-employed-and-smaller-landlords> I am not sure where this was followed up but a few days ago I received an email from QuickBooks headlined: Tuesday 27 July, 2:00 PM - 3:00 PM Webinar: MTD for ITSA - prepare now for a stress-free 2023 Hi Neil, Making Tax Digital for Income Tax Self-Assessment (known as MTD for ITSA) will require all businesses and landlords with gross income in excess of £10,000 to keep digital records from April 2023. Although 2023 may seem far-off, it’s important to start preparing your practice and clients now. GNUCash already provides digital accounting so there is no problem there. Perhaps there will be a requirement to submit the quarterly returns mentioned in the URL above with direct integration of digital accounts to HMRC returns. Regarding Digital VAT, I thought that this GST in GNUCash applied only to Australian GST. However, HMRC have a webpage saying: HM Revenue & Customs English Newid yr iaith ir GymraegCymraeg <https://www.tax.service.gov.uk/making-tax-digital-software/hmrc-frontend/language/cy> Find software for Making Tax Digital for VAT GNUCash is not listed in their linked list of 12 Free Accounting software packages, so I thought that it didn’t comply. If you can find anything else to clarify this, please post to this forum. Neil [email protected] > On 21 Jul 2021, at 16:43, Maf. King <[email protected]> wrote: > > Hi Neil, > > MTD for VAT for turnovers 85k+ (IIRC that is the compulsory reg threshold) is > fine and I've been "doing it" that way for a year or two now. I think the > report is called GST report, (but may be mistaken on that,,,) > > When you say MTD for Self Assessment, I'm not sure what you mean. SA is the > personal tax return process. I'm not (yet) aware of the 2023 rule changes > you > mention. > > Maf. > > > > On Wednesday, 21 July 2021 16:30:12 BST Neil Campbell wrote: >> From April 2023, new laws in UK will require all businesses with a gross >> income of in excess of £10,000 to keep digital records for Tax returns. I >> think that there are already laws in place for record-keeping and >> submitting VAT digitally direct to HMRC. I am sure that there must be >> thousands of GNUCash users who will be affected. >> >> This may seem a long way away, but can one of the developers please confirm >> that GNUCash either complies already (I can’t find anything in the Menu’s >> that relates to VAT or the collection thereof) or the matter is in hand and >> GNUCash will comply before April 2023. >> >> Neil >> [email protected] >> >> >> >> _______________________________________________ >> gnucash-user mailing list >> [email protected] >> To update your subscription preferences or to unsubscribe: >> https://lists.gnucash.org/mailman/listinfo/gnucash-user >> If you are using Nabble or Gmane, please see >> https://wiki.gnucash.org/wiki/Mailing_Lists for more information. ----- >> Please remember to CC this list on all your replies. >> You can do this by using Reply-To-List or Reply-All. > > > > _______________________________________________ gnucash-user mailing list [email protected] To update your subscription preferences or to unsubscribe: https://lists.gnucash.org/mailman/listinfo/gnucash-user If you are using Nabble or Gmane, please see https://wiki.gnucash.org/wiki/Mailing_Lists for more information. ----- Please remember to CC this list on all your replies. You can do this by using Reply-To-List or Reply-All.
