Filing annual accounts HMRC
Discussion
Having just submitted the annual accounts to HMRC and Compnies house, I notice that they are closing the submission service next year.
We currently use a stand alone accounts program, produce the accounts, then submit by typing in the data on the HMRC online service.
I don't really want to purchase some more software or a subscription, cloud based service, so what are my options, if any? Am I stuck, or are there bridging programs similar to the VAT MTD. My program can produce reports in many different formats, CSV etc.
Many thanks
We currently use a stand alone accounts program, produce the accounts, then submit by typing in the data on the HMRC online service.
I don't really want to purchase some more software or a subscription, cloud based service, so what are my options, if any? Am I stuck, or are there bridging programs similar to the VAT MTD. My program can produce reports in many different formats, CSV etc.
Many thanks
HMRC expects that all limited companies will use some sort of 3rd party commercial software in future.
This is another example of an institution making people and businesses jump through complicated hoops at extra cost just to satisfy their statutory obligations.
Even if there is "bridging software" available, I am sure you will have to pay for it. Obviously, if you use the services of an accountant they will already have in place software that enables them to make these types of submissions on behalf of their clients.
This is another example of an institution making people and businesses jump through complicated hoops at extra cost just to satisfy their statutory obligations.
Even if there is "bridging software" available, I am sure you will have to pay for it. Obviously, if you use the services of an accountant they will already have in place software that enables them to make these types of submissions on behalf of their clients.
Thanks.
I don't have an accountant and the business is so uncomplicated (1 revenue stream, 3 business expenses), that paying for additional software would be a completely pointless exercise, purely creating additional cost for no benefit.
I suppose that sums up a lot. I would imagine many small business are going to fall in to this trap.
I don't have an accountant and the business is so uncomplicated (1 revenue stream, 3 business expenses), that paying for additional software would be a completely pointless exercise, purely creating additional cost for no benefit.
I suppose that sums up a lot. I would imagine many small business are going to fall in to this trap.
I honestly don't think that any non-qualified person is really fully up to speed on what is really required for compliant statutory limited company accounts.
Luckily for those who file their own stuff, HMRC and Companies House are equally ignorant.
So, even if HMRC or Companies House doesn't reject the submissions does not mean that they are properly compliant or in line with the appropriate accounting standards.
Luckily for those who file their own stuff, HMRC and Companies House are equally ignorant.
So, even if HMRC or Companies House doesn't reject the submissions does not mean that they are properly compliant or in line with the appropriate accounting standards.
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