Making Tax Digital
Making Tax Digital
Keep tax reporting connected to the accounting records behind it.
YouDoAccounting uses nominal accounts, report groups and departments to organise the figures required by supported digital-tax workflows.
Digital records
Sales, purchases, banking and nominal transactions provide the accounting record used for tax review.
Report groups
Map groups of nominal accounts to the relevant reporting categories instead of maintaining a second set of totals.
Departments
Use departments where separate business activities need to be identified within the same accounting structure.
Review before filing
Check the accounting periods and mapped figures before using an available submission workflow.
MTD for VAT
Prepare the VAT return from the same ledger
The VAT workflow uses the sales, purchase and nominal information already recorded in YouDoAccounting. Review the relevant VAT period and figures before continuing through the supported HMRC submission process.
Keeping the return close to the underlying transactions makes it easier to investigate a value through the accounting records rather than copying totals between systems.
Before submission
- Confirm the VAT period.
- Review sales, purchases and adjustments.
- Check the return values against the ledger.
- Retain the submission result with the accounting record.
MTD for Income Tax
Functionality prepared; recognition still pending
YouDoAccounting has implemented the structures needed to distinguish self-employment, UK property and foreign property activity using report groups and departments.
HMRC recognition is still pending. Until that changes and is confirmed, this functionality should be evaluated as implemented product capability rather than an authorised live submission service.
Why the accounting structure matters
Report groups identify what a balance represents. Departments help separate relevant activities. Together they provide a traceable route from nominal entries to the totals required for a return.
The detailed setup and submission screens will be documented during the later application-form review.
Start with the underlying accounting records
The nominal ledger and reports explain how accounts are grouped and reviewed before tax figures are used.