Hi Maf Thanks for the info. I also just scanned your link and it seems that GNUC would need to incorporate the API to link with HMRC systems. I think this is the aspect that I am asking if it will be considered for a future upgrade of GNUC. I don’t know if there is a place to put this as a request, so if anyone reading this knows, please advise.
Thanks again Maf. Neil [email protected] > On 21 Jul 2021, at 18:08, Maf. King <[email protected]> wrote: > > Hi Neil, > > This seems to be a follow-up doc: > > https://www.gov.uk/government/publications/making-tax-digital-for-business-stakeholder-communications-pack/making-tax-digital-for-business-stakeholder-communications-pack > > <https://www.gov.uk/government/publications/making-tax-digital-for-business-stakeholder-communications-pack/making-tax-digital-for-business-stakeholder-communications-pack> > > my reading (only quickly) is that if you fill in the property or partnership/ > self employed pages on the SA100 (for more than 10k turnover) then you will > have to submit quarterly Income Tax summaries *and* a full annual return, all > digitally. If it is anything like the VAT approach then GC should prbably > manage the summaries with a couple of well crafted reports....the annual > return might be more steps, though. It is not a paper process I'm familiar > with; I don't use those pages in the SA100. > > Presumably, the entire SA100 will go that way eventually - ie digital > submission. > > I've checked my GC, the report "Income and GST Statement" has an option to > produce UK VAT return info. > > HTH, > Maf. > > > > > On Wednesday, 21 July 2021 17:09:38 BST Neil Campbell wrote: >> 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-busines >> <https://www.gov.uk/government/consultations/making-tax-digital-for-busines> >> s-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/l >> <https://www.tax.service.gov.uk/making-tax-digital-software/hmrc-frontend/l> >> anguage/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.
