VT+ and MTD

MarieNoelleMarieNoelle Trusted RegularHampshire/Surrey borderModerator, MAAT, AAT Licensed Accountant Posts: 1,443
I have spotted a discussion on Aweb this morning, regarding VT's decision not to pursue any more development on MTD. It's a real shame because for clients who have no interest in doing their own bookkeeping this is a cheap and cheerful software solution.
Now we have just under 18 months to move clients to a different package. :-(

Making tax digital
VT have decided to do no further development work on VT's bookkeeping package, VT Transaction+. The government plans that all VAT returns for businesses with a turnover over the VAT registration threshold must be submitted via MTD from April 2019. As a consequence, VT Transaction+ will no longer be suitable for these businesses.


P.S.: @AAT_Team I don't seem to be able to post in the Licensed member area?

Comments

  • AAT_TeamAAT_Team Administrator Posts: 515
    We broke something- should be fixed now!
    MarieNoelle
  • TreadStoneTreadStone Feels At Home AAT Licensed Accountant Posts: 280
    Longish thread about this on AWed from quite a few unhappy/worried users.

    I can only think they've been bought-out by one of the big boys rather than throwing in the towel altogether.

    I've never used it myself, and none of our clients do so i'm indifferent but I can see why so many are concerned.
    MarieNoelle
  • burgburg Experienced Mentor GloucesterModerator, FMAAT, AAT Licensed Accountant Posts: 1,440
    We use it but identified it as not fit to continue with in respect of MTD. We have been moving away from it to Xero over the past year.
    Regards,

    Burg
  • KoopaCooperKoopaCooper London, UKMAAT, AATQB Posts: 183
    In our practice, VT+ is our primary software for bookkeeping and drawing up VAT returns and draft accounts, but it's pretty much for our eyes only; the clients rarely see any reports off it, and we never share VT files with them.

    I suppose we'll have to stop using it, but we're already seeing a growing trend in clients wanting online software anyway, so we're steering them towards QBO as often as possible (with a few on KF and a few more on Xero), and I guess we'll use them once VT+ becomes unusable with the advent of MTD...
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