Palmerston Limited

Palmerston Limited makes an easy transition to Making Tax Digital for VAT with CCH OneClick

Palmerston Limited has been serving clients in Purley, Greater London, and beyond since 1986. Today, 24 accountants, business consultants and support staff work with individuals, sole traders and small to medium-sized limited companies. The firm has a wide variety of clients in industries including IT, retail, manufacturing and construction, providing a complete range of accounting services as required.

Palmerston Limited has been using CCH Central software from Wolters Kluwer for nearly twenty years. CCH Central products for compliance on tax and accounts underpin its day-to-day client work, while CCH Practice Management helps in running an efficient, profitable business.

A hybrid approach to MTDfV

When information around Making Tax Digital – Making Tax Digital for VAT (MTDfV) – began to take shape, Director of Client Services Martin Weston attended briefing seminars organised by Wolters Kluwer. He found the experience very helpful in getting to grips with this latest compliance initiative: “Wolters Kluwer are always very good at involving HMRC in their events, and interpreting and summarising what HMRC actually needs from the profession.”

Martin could see that CCH OneClick would offer the bridging software required to import data collected from different bookkeeping software packages into HMRC-ready spreadsheets. He explains,

“We connect to many different platforms on the clients’ side. If they’re using Twinfield online bookkeeping software from Wolters Kluwer, it’s completely straightforward; we can submit the VAT return directly online from the software to HMRC. Where we needed a different solution was for clients using third-party packages such as SAP, Sage and Xero.”

Assisted by a member of staff, Martin began to use CCH OneClick to prepare and file around forty VAT returns. They accessed clients’ software using CCH Accounts Production and exported the numbers for HMRC’s nine boxes of data into Microsoft Excel. After making any necessary adjustments and calculations, they uploaded the spreadsheets into CCH OneClick and submitted the return to HMRC. Martin advises,

“The software is simple to use and in many ways implementing CCH OneClick for MTDfV has not been a big deal. But you have greater control if you start small, so in the first instance we limited the number of users and the number of submissions, in effect running our own MTDfV pilot.”

Rolling out the project

With one quarter’s returns successfully completed, the firm is now preparing for a second wave of submissions. Over time, Martin plans to expand usage of CCH OneClick to other members of the Palmerston team.

He is now looking forward to gaining improved visibility of the firm’s MTDfV activity through CCH OneClick:

“The CCH OneClick dashboard tells you everything you need to know, letting you see at a glance what’s been paid and when it’s been paid, what needs to be filed in the next 30 days and so on, building a record over subsequent quarters. This is really useful in helping a busy firm like ours ensure nothing is overlooked.”

Key benefits for Palmerston Limited

  • Provides a bridge between spreadsheets and digitally filing VAT returns

  • Supports the Palmerston team in working with different client-side bookkeeping applications

  • Improved oversight of the status of VAT returns, payments and refunds

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