Thought you would be interested in the latest MTD update from Sage:
"Making Tax Digital (MTD) is a key part of the government’s plans to make it easier for individuals and businesses to get their tax right and keep on top of their affairs, as well as transforming HM Revenue and Customs (HMRC) into a world-leading digital tax authority.
Here is a useful link to a Sage web page detailing what MTD means for a various size businesses:
Here is the PDF for small businesses which normally use Sage 50 (also attached):
At present, the only legal requirement relating to MTD is the scheme for VAT, which applies to VAT registered businesses as of 1 April 2019. Although
there have been rumours this date might change— or that MTD will be cancelled entirely—HMRC has issued a VAT Notice, making it fully official. Businesses need to prepare and to have a solution ready in time. "
Most small businesses are upgrading their Sage system (usually Sage 50) to the latest version 2019 (v25) which is MTD compliant. This has the unfortunate side effect that all 'add-ons' will stop working and will also need to be updated to the latest version. One of the most popular add-ons is Synchronite which is in place in many FM sites enabling import of invoices etc into Sage from FM. Unfortunately this is no longer being developed (the company went into administration in 2017) so no upgrade is available.
Such upgrades need to be planned in as they also need to tie in with VAT Returns which still need to be processed under the old system until 31/3/19. Please email me if you have any queries or need any advice.
Ara Martirossian F.C.A.
"The Sage Man"
PS For those looking for an alternative to Synchronite for Sage 50, we have just released the latest version of our FM2Sage integration module which can import all the normal 'day to day' transactions into Sage 50 (e.g. service invoices, product invoices, sales orders, purchase orders, time sheets, ....) as well as Sage 200 (e.g. Sales Orders, Purchase Orders, ...) from FM:
Setup is ~ 1hr which covers the addition fo 1 table + 1 script per import to your FM file. There is also a full free trial licence so you can test fully before the buying the solution:) Please email me if you want to discuss available integration options \ requirements for your solution.