Any business where the revenue exceeds £85k has to be VAT registered. Some businesses need to be VAT registered regardless of whether they earn that level of income because many large businesses will only deal with VAT registered companies.
What is the plan, if there is one, with regard to supporting VAT?
I have updated the name of this post as 'MTD' does not necessarily make sense to everybody.
Wait to get it sorted.
Work on the MTD VAT return in the Accountant Hub has started. Soon, as a VAT registered business, you will be able to see how much VAT you owe or are owed. Additionally your accountant will be able to submit your MTD VAT return via the Accountant Hub.
This is a big piece of work and we will keep you up to date on the progress. We will start supporting the quarterly accrual accounting VAT scheme which is the scheme that most of our customers are on.
Please help us by completing this quick survey about how you deal with VAT returns.
If you are a business owner or a sole trader:
https://forms.gle/5MF3v56a258mZxdF6
If you are an accountant:
I'm just doing VAT for the first time and it's impossible to do this via CountingUp. HMRC will only accept submissions via software now with MTD. I've had to replicate all of my CountingUp transactions and invoices in tax software (because you also don't allow linking to tax software because you say you don't need to...hint, you either do or you need to provide the basics of what is needed to run accounting for a business). It's causing a mess of accounting which will be a nightmare at end of tax year. Please prioritise this, for the sake of my brain.
Please push this up the list. I love countingup but jot having VAT managed for me will be a dealbreaker very soon. When is it due to be released?
We fully plan on supporting VAT and it is in our roadmap.
More votes here will help it to climb higher and get built faster!
UPDATE: We are making progress on this and have successfully tested our secure connection with HMRC to connect with their services.