Following the publication of this blog, we have been informed by Sage that there will now be a Making Tax Digital solution available from Sage for older versions of Sage 200, so Sicon have withdrawn the new MTD VAT Submission module with immediate effect.
Making Tax Digital is an HMRC requirement for businesses to electronically submit their VAT return directly from an accounting system for return periods starting on or after 1st April 2019. This will fundamentally change the processes of businesses and the overall administration of the tax system throughout the UK.
There are many benefits to the government initiative, including the availability of tax information in real time. However, some systems providers have not yet announced plans to make their software compatible or, will be making only the latest versions of the software compatible.
Sage is one of the largest accounting system providers within the UK. Recently, they indicated that that they will not be offering a solution to the Making Tax Digital requirement for clients with Sage 200 versions prior to the Sage 200c winter edition.
However, Eventura business partner, Sicon, have created a new module that will enable Sage 200 users with older editions (from 2011 to 200c* with the exception of 2013 R1) of the software to handle this new legislative requirement. This new standalone Sage 200 Add-On module will make a customer’s Sage 200 system compliant with the HMRC requirement to submit their VAT return electronically.
Whilst the product has not yet been released, it is expected to be available from 2nd July.
If you are a current Sage 200 customer, operating an older version of the software and would like more information about making tax digital and the new product from Sicon, please contact us.