MTD

The RBA system is on target to be compliant by the end of 2018

Making tax digital

We will help you get digitally ready

Dear Customer
 
You may have heard a lot recently about the proposed implementation of Making Tax Digital for Businesses (MTDfB) by HMRC and that the deadline for this is March 2019.

Well we at RBA would like you to know that we have attended an HMRC run presentation at their Shipley HQ and can confirm that the RBA system is on target to be compliant by the end of 2018.

What does it mean?

Essentially, the new rules will require you to submit your quarterly tax return without ever manually transferring the figures required from one system to another.

Your accounting program should upload sales, purchase and vat figures for you to the HMRC website.
And the figures for this must have been digitally passed from your EPOS sales system to your accounting system.

Will I need some extra software?

If you want your RBA system to submit your returns then you will need the integrated accounting ledger modules for your RBA system.
This will also allow you to enter and track all your supplier invoices and do your own accounts, right up to profit + loss and balance sheets.
This would then facilitate a seamless integration between your sales, purchase and accounting system and be MTDfB compliant without any complications.

What are the costs?

Because of the implications of this we are offering different methods of providing these modules in the most cost efficient manner for you. So we may be able to offer you an interest free period or even an ongoing rental from as little as £25 +vat per month instead of outright purchase of the software.

Can I use another system?

If you are currently using our Sage Line 50 integration you will be compliant, but please check with Sage to confirm this is the case with the version of Sage you are using.
As well as RBA, all other mainstream accounting systems must be compliant before the April 2019 deadline in order to file the VAT using MTDfB.

But, as an RBA user you will need to export the sales and vat data from your rba system and then import it into your accounting system without manually transposing the figures.

The export of this data is obviously something we can support you with but please check with your current provider (or your proposed provider) as to their method of import, should they even support this.

But remember, the key to being compliant is ‘Digital’. If you are manually entering figures from one system to another you will not be compliant.
Please contact us if you have any questions about the above, we will be happy to help.