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K
Kathleen Smith
February 12, 2019
Question

Making Tax Digital - Home currency in Euros

  • February 12, 2019
  • 1 reply
  • 0 views

Hi there,

 

One of our clients uses Quickbooks and is due to file VAT returns directly to HMRC (Making Tax Digital) from April 2019. However the home currency for Quickbooks is set up as Euros. Is this going to present a problem when filing directly with HMRC VAT? How will the client know the GBP equivalent due to/from HMRC when filing directly, as the VAT return report is presented in Euros.

 

Thanks in advance.

 

Kathleen Smith

1 reply

T
TaliaI
February 12, 2019

Hello Kathleen,

 

Your client will need to use our bridging tool which will be available in April. It will involve having to get a secondary account that is set up as GBP - we are currently in negotiations with sales for there to be a fixed price for this.

 

There will of course be further information on this released closer to April - but for now know that we do have a plan for customers like your client so you do not need to worry.

 

Thank you,

 

Talia

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