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MTD query - group returns

  • Fellow
  • Practice Licence
  • 45 posts
  • # 117622

I have a partnership client that run two business under the one partnership.  Currently the two business are recorded in 2 QuickBook accounts for ease of recording and reporting with the VAT figures exported to spreadsheets.  I then have to merge the 2 spreadsheets manually then submit these figures manually.  

With MTD I belive I now have 2 options

1.  post all partnership information into one QuickBooks account with locations, or

2.  set up a 3rd QuickBooks account so act as bridging software. 

 

Any thoughts?

  • Companion Fellow PM.Dip
  • Practice Licence
  • 224 posts
  • # 117638

Hello,

I'm not sure if you've already figured this out, but I was wondering if you've considered carrying on as normal and just using third party bridging software from elsewhere? Did you catch last week's Bridging Software webinar with Tax Optimiser? You can watch it on our youtube channel www.youtube.com/ICBUK the direct link is here We discussed what counts as digital links/records, etc. and how to simply drag and drop your excel spreadsheet into the platform for submission to HMRC.

We also have a webinar with HMRC tomorrow which you can book here and again it'll be posted to Youtube on Friday.

I'm afraid I don't know too much about QuickBooks bridging software but I'm hoping they'll be doing an MTD webinar for us shortly too!

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