eBay

redworldtoysandmodels · ‎08-04-2025

With the MTD for IT becoming mandatory from April 2026 what low cost accounting software do other Ebayers use that will make this possible. With profit margins squeezed and postage costs forever increasing turnover can be high enough to make MTD mandatory from next April but actual profits are quite low. Costs of accounting software will add to this burden as well as extra time reporting every quarter.

simplyessential_uk · ‎09-06-2025

Ive been looking around and Im presently with FREE Pandle version and theyve said they will have theirs ready by Apriil 2026 - their pro version is £5 a month so if they charge that should be their price I think.

Ive looked at SAGE and they have a FREE version too but theirs is £7 Pm so Ive not looked into whats included in the Free version but theres not many on the Gov website who have already been approved so Ill just keep checking nearer the time I think

superchallenge · ‎09-06-2025

If you have a Natwest or Mettle account, you can get Freeagent for free. I've used it for 10 years to manage my accounts and file my taxes, and would gladly be paying them the £19.60 per month they charge to Limited Companies, was it not free!

As for the time...I just classify my expenses once a week and add invoices as and when required, then filing is done in a matter of 5 or 6 clicks once a year. I can't see that doing it every quarter is going to take more than a couple of minutes every three months.

simplyessential_uk · ‎10-06-2025

I thik its more the worry than the actions tbf- The unknown.

I saw the Mettle/Natwest on the HMRC list - Im with Santander business and dare not change as Amazon Verification process is not one to play around with (if you know you know) so Im not upsetting that apple cart.

Im hoping PANDLE will just do the same and I press the button each quarter and happy to upgrade to their pro package £5 a month - Im surprised the boards are so quiet on the subject as its going to effect alot of people come April

redworldtoysandmodels · ‎10-06-2025

I am also surprised more people are not commenting on this tax digital situation. I think a huge percentage are just not aware. You have until Jan 31st to do your tax return which may then prompt the tax digital compliance depending on turnover (not profits). You then have 3 months to sort out some kind of digital software. Xero have brought out a new plan costing £8.00 per month via bookkeepers/accountants. Have started that this year so can get the hang of it.

simplyessential_uk · ‎11-06-2025

Ive already done my 2024-25 returns and received 1 letter through the post saying "you may need to change the way report your income and expenses" - maybe a throw away letter to alot of ppl. My understanding is

Standard Update Periods (aligned to the tax year):

Quarter 1: 6 April to 5 July - Filing deadline: 7 August
Quarter 2: 6 July to 5 October - Filing deadline: 7 November
Quarter 3: 6 October to 5 January - Filing deadline: 7 February
Quarter 4: 6 January to 5 April - Filing deadline: 7 May

"Final Declaration" will need to be submitted by 31 January following the end of the tax year.

I was also in a bit of a qauandry about the tax dates not being monthly but on the webinar seems that we can opt for April 1st to 31st March which would be so much easier - is that something you have seen too?

I know alot of people use Accountants so perhaps just not aware or need to be concerned too much but I think there will be alot of panic by the end of the year. Ive been using Pandle for 2yrs and I find it very easy so Im hoping an extra feature to click and submit (linked to HMRC) will be as easy as that, at least Im pretty comfortable with softwares using that as Im sure other companies will be similar - thanks for the mention of Xero £8 per month is pretty good - was looking at them or Sage too but was kind of overwhelmed with Sage options and couldnt see with package covered the MTD

pamel_3339 · ‎08-08-2025

Just done the HMRC presentation which is a joke. What religion do I have to become to opt out or what age do you have to be so your not included.

All the accounts (like many I guess) are spreadsheet based, no guidance on which software is free if your bridging.

simplyessential_uk · ‎14-08-2025

Im surprised we manage to stay awake for the presentation - if it wasnt live Id of put it on double speed to listen to - The only thing I learnt was that it was quarterly not yearly which is annoying (with 1 month deadline)

- HMRC do a list of "compatible softwares" which Ive made my way down - theres a spreadsheet option but I couldnt make head of tails of it and Im fairly good on these things, then there was a company who lets you complete a spread sheet for £14.99 - again not easy to understand on their info and I needed to see a demo really and not sure if thats a year or quarter now I think about it

I started using "pandle" as they offer free software and offer a Pro version £5 which does VAT MTD and they say they are going to be ready in April with the IT MTD so Im holding out on that one now. I did find Sage £8 per month at the cheapest but to be honest Im surprised how little options are out there for something that is coming into force in April for alot of people.

redworldtoysandmodels · ‎14-08-2025

I have found a Xero package with help from a local book keeper that costs £8.00 per month. It has cost me to get training with it but so far it is going OK. Will no doubt need more training and advice to actually get set up to send the accounts quarterly from next year so more costs involved. This government are making life even more difficult and costly for all small businesses. It is going to be a shock for those that are not prepared.

simplyessential_uk · ‎15-08-2025

yes this is a big leap for some people who will be forced into getting accountants (as too complicated to do themselves) I started Pandle a year ago to "get to grips with it" before the change over so Im hoping (Fingers crossed) when I do it next year it wont be too hard to grasp.