There is a very simple way you can achieve compliance for the VAT regulations changes on April 1st using Sage 50
Whilst you can of course move on to the Sage subscription model which will cost Accounts Professional users upwards of £132.50 a month, businesses running a Sage 50 Accounts version at 24.3 or lower can merely use one of the approved bridging API’s on the HMRC website
A bridging API is straightforward to use. Based on Excel you merely link your VAT data from your internal Excel spreadsheet to the compliant Excel spreadsheet of the bridging API. Agreed, it is an additional step to returning VAT but the cost savings should warrant the additional time it takes you.
A sample cost of one of these bridging API’s is £90 a year plus VAT per singe VAT entity. which is rather more attractive than the subscription model.
The only caveat to this if you are running a version below version 21 then upgrading your Sage 50C software makes sense for a variety of reasons (Office 365 integration for example). Users of Sage 50 Accounts will only be able to upgrade moving forward via the Sage subscription model – so it is inevitable. It is the business case for upgrading your systems that is the key. Are you upgrading just to be able to return your VAT directly from your Sage application or is that just one of the benefits that upgrading will return against your ongoing investment.
Thought for the Day around Upgrading Sage 50 Accounts
At the point you need to move on to a subscription model of Sage should there be a wider review, particularly for small to medium sized manufacturers who currently use Sage Manufacturing which is no longer on the development roadmap for Sage and regularly presents problems for businesses who try to run Sage 50C Accounts in the Cloud? Perhaps you should consider an alternative upgrade/migration path?