Before you switch on the MTD feature in Sage 50 accounts, check you have
- Successfully registered with HMRC for MTD.
- Make sure you have a MTD compliant version of Sage 50 Accounts.
- Open the company you want to switch to submit using MTD for VAT.
- Click Settings and then click Company Preferences.
- Enter your password and then click OK and then click the VAT
- Click the Enable Making Tax Digital for VAT submissions check box.
- Click Yes and then click OK.
When you next submit your VAT return it will submit under MTD.
New Features in Sage 50cloud Accounts V25.1 include
VAT Return attachments – To help with Making Tax Digital (MTD) compliance, you can now attach documents to your VAT return such as a partial exemption calculation etc.
Journal attachments – You can now attach documentation to a journal transaction eg copies of Hire Purchase Agreements etc.
Bank reconciliation tracking – View transactions that have caused a difference in your bank reconciliation.
VAT Return improvements – You can now access your VAT return while other network users are logged in.
Sage Drive improvements – See which Sage ID is used to connect to Sage Drive and receive advance warning when it’s due to expire.