Intuit QuickBooks has announced its full Making Tax Digital (MTD) product suite is now live.
In a product demonstration on stage at QuickBooks Connect London, VP and UK country manager, Chris Evans, and head of product Europe, Shaun Shirazian, showed how both accounting professionals and small businesses can use QuickBooks, now, to file in compliance with HMRC’s Making Tax Digital for VAT.
Included in the MTD product suite is QuickBooks’ Bridging Software. Bridging Software enables small businesses and accounting professionals to use spreadsheets to file their VAT through QuickBooks in compliance with MTD filing requirements.
Shaun Shirazian said: “Accounting professionals and small businesses are looking to the software industry to make MTD easy.
“After conducting numerous pilots, through listening to the feedback of our customers and by working closely with HMRC, we have optimised and iterated QuickBooks and built a solution ready for the MTD generation that is available to QuickBooks users.
“As digital tax is embraced, our next challenge is to help small businesses and accounting professionals put digital at the heart of their business to help them supercharge productivity, run and grow their business.”
Both the MTD for VAT and Bridging features are included for free in all QuickBooks Online subscriptions. QBOA users have access to reduced QBO subscription pricing as part of QuickBooks’ ProAdvisor loyalty programme.
QuickBooks also announced its Open Banking connectivity will soon be live with the five top small business banking account providers – Lloyds, HSBC, Barclays, Santander and RBS / NatWest. Functionality is currently being tested with a group of QuickBooks customers and will be generally available soon.