Posted by Bishop Fleming on February 13, 2018
Sage 50 Accounts users who are using old versions of the software will need to upgrade to carry on submitting reports to the tax office.
Bishop Fleming's Mark Smith explains what you need to do.
The gateway service for HM Revenue & Customs is decommissioned from 14 February 2018 and replaced by a new system, affecting some users of Sage 50 Accounts who submit the following reports via the software:
Only those who are running v24 will be able to continue to use this feature as it is already compliant with HMRC’s new system. If you are using a version earlier than this, you will need to take action.
Sage 50 Accounts customers who are entitled to free software upgrades as part of their subscription will be able to upgrade to v24. For customers who are not entitled to free software upgrades, they will need to purchase the latest version.
There will be some users of Sage 50 Accounts who generate their VAT returns on Sage, but then submit using HMRC’s online service. When ‘Making Tax Digital’ takes effect for VAT-registered businesses on 1 April 2019, VAT returns must be submitted through approved accounting software, so this should be considered for Sage customers who don’t have v24 by 1 April 2019.
Sage – like Xero and QuickBooks – also offers a cloud-based platform. This alternative to upgrading or renewing your desktop version is worth considering as it’s a better way to maintain accounting records, generate real-time management reporting, and it offers efficient functionality with Microsoft Office 365.
Here at Bishop Fleming, our team of accounting software experts can assist you with your options. Please get in touch if you would like to know more about how we can help.
Mark is a Corporate and Business Services Manager in Bishop Fleming's Exeter office.
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