Being VAT registered and using untied for MTD
untied does not support VAT in our live product.
However, if you are already VAT registered and filing in another way, you can still use untied for income tax (whether for MTD or under self assessment).
Here's what you need to do:
- Tag your income and expenses as usual ... using gross sums (ie without making any adjustment on a transaction by transaction basis for VAT)
- When you pay VAT to HMRC - tag the money out as an expense
- Should you receive a VAT repayment from VAT - tag the money in as income
If this applies to you we may need to set up custom tags for you so get in touch.
(For more see this from HMRC)