VAT returns
VT MTD For Excel enables a VAT return on an Excel spreadsheet to be submitted to HMRC. The VAT return can be created in three ways:
1.Create your own VAT return in an Excel spreadsheet, see VAT return in any format.
2.Import a VAT return to an Excel spreadsheet from a VT Transaction+ or VT Cash Book file, see VAT return imported from VT Transaction+ or VT Cash Book. This should only be used if you cannot submit the VAT return directly from those programs (e.g., a group VAT return)
3.Enter transactions in a pre-formatted workbook, which includes a VAT return template.
Income tax quarterly updates
Similarly, quarterly updates for income tax on an Excel spreadsheet can be submitted to HMRC. The quarterly update can be created in two ways:
1.Create your quarterly update in an Excel spreadsheet, see Use your own workbook.
2.Enter transactions in a pre-formatted workbook, which includes a quarterly update template.
When to use VT MTD for Excel
Although VT MTD for Excel can be used in the circumstances above, we recommend that users use VT's own MTD spreadsheet program, VT Report instead, as it is a superior product, which provides more features and flexibility.
If your records are on spreadsheets and you wish to use VT MTD For Excel, it is still provided and is up-to-date.
Please note: You need the 32-bit desktop version of Excel to use VT MTD for Excel. For more details please see system requirements. Furthermore, for income tax, VT MTD for Excel can only be used for short-form quarterly updates (i.e., your turnover must be under £90,000 for the tax year).
