Teri’s Tips: How to set up MTD for VAT in Xero
Here’s how to set up MTD for VAT in Xero.
At Rosemary Bookkeeping, we work closely with our friends and partners at Xero to help our clients get to grips with their bookkeeping.
And there is still a lot to get to grips with.
That’s why our accounting crackpot, Teri Cotta, has been working hard to bring you the top tips to be a Xero whiz and understand its processes, from the terribly simple to the terrifically complex.
In this Teri’s Tips, you’ll see how to set up MTD for VAT in Xero.
And if you’re a visual learner, don’t worry, a full video showing each of these points step by step can be found on our YouTube channel.
How to set up MTD for VAT in Xero
Start by entering your VAT number into financial settings.
When you open Xero’s VAT return for the first time, you can select to use the MTD VAT return.
Xero prompts you to sign up for MTD with HMRC.
Use your Government Gateway details to log in to HMRC and sign up if you haven’t done so already.
You will receive a confirmation email within 72 hours once received.
Select continue after signing up in Xero.
Connect your Xero organisation to HMRC and grant authority.
You’re now ready to prepare and submit MTD VAT returns in Xero.
Working with a Rosemary Bookkeeper for MTD compliance
Bookkeeping software like Xero sometimes depends on your financial knowledge and ability to work through MTD yourself.
Therefore, if you’re not confident with your books or MTD legislation, this can still be a source of stress.
Our bookkeeping experts are trained to work digitally using MTD-compliant software like Xero, QuickBooks and Sage but are real-life human beings who can reassure and guide you through the process so you’re not going it alone.
Our Rosemary bookkeepers are well-versed in MTD and online services, and offer advice on which software would be best for you and often offer competitive prices for software subscriptions.
Additionally, we offer an online exchange of documents, so you’ll be able to upload photos or scans of documents so that we can process them on the bookkeeping software.
We also use Apps like AutoEntry or Hubdoc, which attach documents directly to the record on the software and automate bookkeeping processes – saving you valuable time and money.
Need an expert bookkeeper?
Receive expert help and advice from your local bookkeeping experts by finding your nearest Rosemary Bookkeeping business today.
