Hi Mark & Neil. thanks for highlighting the github repository - looks interesting, I might have a play next month.. I've been using a commercial bridgeing spreadsheet so far for VAT submission of data from GC, I rather anticipate that the next step (which, AIUI, is not for Corp Tax (yet)) for the self-assessment pages will allow similar spreadsheet manipulation and submission. It seems to me that they are targetting smaller one-man-band type businesses via the personal tax return.
the direction of travel is clear, though! Digital APIs wherever possible, and remove a different sort of digit-al mistake - the fat fingered kind! regards, Maf On Wednesday, 28 July 2021 12:48:36 BST Neil Campbell wrote: > Hi Mark > > Thank you for all that background information which I found to be very > informative. I hear, and agree with, you about the complexity of UK > Taxation system and the practicality of this, but do wonder how the > software developers mentioned on HMRC website got MTD status. I expect all > they did was to get submission of the unadulterated records without year > end adjustments etc linked to HMRC via their API. I was not aware of the > HMRC motives, so that was interesting. From what you have said, it may be > correct to say that the existing P&L Report would be OK for this automatic > return. It would just need to be integrated with the HMRC system using > their API. But I am not a programmer, so I couldn’t do this. > > I have put in an enhancement request for this change and will see what > happens next. Thank you for your enlightenment. > > Regards. > Neil > neilcam...@gmail.com > > > On 28 Jul 2021, at 12:24, Mark <alien.technol...@gmail.com> wrote: > > > > Hi Neil, > > > > From what I understand, HMRC's stated aim for Making Tax Digital is to > > reduce errors which cost the government tax money. The general approach > > consists of (my interpretation): - Making APIs which make it easier for > > the right information to be submitted. - Requiring that software > > developers that implement the APIs do so by creating submissions straight > > out of the raw accounts. Thus, there is no way for the end user to > > manipulate the submission data; the data will be accurate (if the > > accounts are right) and it's harder to defraud the system. > > > > I got to see inside the MTD process as I've implemented the MTD VAT > > interface for my businesses, taking the account data out of GnuCash. In > > order to get this approved for production use, I had an interview with an > > HMRC engineer, shared my screen and showed the solution at work. It was > > relatively painless, but the interviewer wanted to check that the general > > approach was right, that there was a legal submission containing required > > text, and that there was no way for the end user to change the submitted > > data (other than by editing the accounts). I shared the code on GitHub, > > Google for gnucash-uk-vat if anyone is interested. > > > > I would expect that MTD for Corporation Tax submission is going to be > > along the same lines i.e. a requirement that the corporation tax return > > is automatically derived from accounting records. I wonder how that will > > work in reality: VAT accounting is relatively straightforward - the same > > accounting approach works in lots of different countries. Corporation Tax > > is a whole different kettle of fish - there are arcane rules specific to > > the UK: Depreciation, two ways for getting R&D relief, and the way > > profit/loss is shifted between tax years to name a few. > > > > Mark. > > > > > 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. > _______________________________________________ > gnucash-user mailing list > gnucash-user@gnucash.org > 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 gnucash-user@gnucash.org 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.