VAT Bridging loans allow you to raise short term finance to cover the VAT element that may be due on the purchase of a commercial property. A VAT bridging loan can provide the finance to meet this additional cost and ensure that the deal completes.
As of April 2019, anything to do with tax now has to be done digitally. You may have heard of the acronym MTD (Making Tax Digital to give it its full name), and it is something that is now a legal requirement, so when it comes to VAT Bridging you are now required to use suitable software.
If you could find yourself a software package that offered you the best way of sorting out your VAT Bridging, and it came with the following benefits:
- Creating Individual Tax Returns (SA100), Partnership Tax Returns (SA800) and Trust Tax Returns (SA900) with online filing as standard. Includes Scottish Rates.
- Automatic link between Partnership (SA800) and partners’ returns (SA100 and SA900)
- Secure client database to maintain standing data and monitor the progress of returns. Also the capability to view the submission history of returns
- Returns lockable to avoid accidental changes at the Partner’s end
- Built in comprehensive Capital Allowance Calculator
- Automatic preparation and attachment of schedule showing capital gains tax calculations
- Integrated FTSE 350 dividend database
- Includes all supplementary pages (Ministers of Religion, Lloyds Underwriters etc)
- Reports that easily summarise all data on a return.
- Comprehensive and updateable tax office codes and inclusion of all HMRC help sheets and updated country codes
- Time-saving auto-complete dates feature
- Clear status markers enabling you to see the progress of each return
- Fee-earner allocation by client (to track and maintain client / fee earner responsibility)
- Integration with many accounts production packages to easily import data, save time and improve accuracy
- Integration with HMRC API’s to pre populate individual tax returns with data already known by HMRC.
- Intuitive layout with context sensitive HMRC guidance notes.
- All returns validated before submission to reduce errors.
- Built in task reminder system to reduce risk of late penalties.
- Easily attach PDF files to return.
- Data is easy to retrieve and review on screen.
… would you be interested? How about if you had free unlimited technical support too? It’s a no brainer.
Get yourself over to https://www.btcsoftware.co.uk/making-tax-digital/ now to find out more, and to see just how beneficial this could be for you and your business, not to mention your clients. You won’t be disappointed.
If you have any questions or queries, the team at BTC Software will be more than happy to assist you