Users without a valid key will still be able to read data but they will not be able to enter new transactions. All existing keys will continue to be valid in the current version indefinitely and in the new version until 30 June 2020. The new price will apply from 1 February 2019. The cost of a license key will be £75 + VAT per annum, including support. A VT Accounts license will be required to use the MTD features in VT Transaction+ as an agent.įor VT Transaction+ only users, the next release of VT Transaction+ will require an annual license key. A premium will no longer be charged in the first year of purchase.
The price of a VT Accounts subscription will remain at £150 + VAT per annum.
The VT Accounts suite will continue to include VT Transaction+. To keep up to date with MTD, please visit VTs website at Subscription costs VT will also be developing an Excel based bridging product for use with VAT groups and other situations where the VAT return cannot be transmitted directly from VT Transaction+. This feature will be available by the time the first quarterly VAT returns need to be filed under MTD in July 2019. In a change of policy, VT will be implementing MTD directly into VT Transaction+ and VT Cash Book (instead of relying on third party bridging software). Bridging software products digitally import the VAT return totals from accounting software and transmit them to HMRC. Instead, VAT return totals must be transmitted directly from the accounting software used by the business or from bridging software. This is part of HMRCs Making Tax Digital (MTD) strategy.įor VAT return periods commencing on or after 01 April 2019, most businesses will no longer be able to enter the VAT return totals directly onto HMRCs web site. However, for those who don't, know that gong fowards there will now be an annual charge of £75.Īs you are probably aware, HMRC are changing the method used to file VAT returns. MTD is implemented through VT Transaction+ so no worries about needing to move up to VT Accounts for people.
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