MTD Odoo Marketplace - VAT module
This module enables the collation and transmission of VAT data from Odoo to HMRC in line with Making Tax Digital requirements. From your sales and purchases in Odoo, your VAT liability is automatically calculated and submitted to HMRC.
Note: to connect with HMRC APIs, you will also need to install the free connector module account_mtd available on the Odoo app store.
The purpose of this module is to allow Odoo accounting to be used seamlessly in the UK alongside the changes by HMRC in their policy on VAT submission requirements.
From April 2019, all UK VAT registered businesses must submit their VAT returns electronically.
The module integrates with the full suite of HMRC facilities including:
- Retrieve VAT obligations
- Submit VAT returns
- Retrieve VAT liabilities
- Retrieve VAT payments
- Retrieve submitted VAT returns
- Intuitive and easy to use with low number of clicks required
- Developed and supported in the UK in conjunction with UK registered accountants
- Can support multi company tax arrangements
- Submissions can be made as an agent or as the business
- Blockchain audit function to ensure accuracy of data
- Automatic VAT reconciliation of the entries included in the VAT submissions
- Official HMRC recognised solution
What is included
The purchase price of the VAT module includes the following services for a single VAT number for a period of 12 months:
- Access to the modules
- HMRC key management
- Support from our UK-based team
- Inclusive of any upgrades or improvements
Access keys will be provided directly by OpusVL after purchase (please allow 2 working days for delivery).
After the initial 12 month period services can be renewed for GBP250 per year.
MTD Odoo Marketplace - VAT module
Before being able to use MTD, there are various pre-preparation activities which can be started before the module is installed.
MTD depends on having an HMRC 'Government Gateway' account registered for MTD VAT. Therefore as a first step, make sure that you have your Government Gateway log-in details and have registered for MTD.
If you do not have your HMRC information, a sandbox user can be provided to enable testing before the official details are available.
The registration process is different for businesses and agents.
Note that once you have signed up for MTD, you will not be able to submit VAT returns manually so make sure that all returns are up to date before registering.
Review previous VAT returns, check that all transactions are included and that you are comfortable with your VAT posting transactions. MTD will post your errors as fast as it posts good data to HMRC!
If you now have (or are in the process of setting up) your VAT MTD details with HMRC, you can still get started with MTD preparations.
You will need to know:
- The company that you are setting up in Odoo
- Odoo VAT Input and Output accounts
- VAT liability account
- The date of the last manual VAT return (the cut-off date)
- You will need to have thought about or set up
Make sure you have the VAT number configured in Settings -> Companies.
MTD start date
Decide when MTD starts. For example, if you set the date to 1st Feb 2019, when generating the VAT 100 report the system would include the entries from 1st Feb 2019 only.
You will also need the following MTD credentials from OpusVL to finish the set-up:
- Server token
- Client ID
- Client secret
- HMRC URL
- Redirect URL
- Firstly, ensure that the module file is present in the add-ons directory of the Odoo server
- Update Modules list so that it appears in the UI within Apps
- Look for the module within Apps and click on Install
- Go to 'Settings -> Users' and add users to the 'MTD VAT' group and 'MTD User Group'
The following credentials must be configured in Accounting -> Making Tax Digital -> MTD Setup -> HMRC Setup
- Name: HMRC Live Environment
- HMRC Environment: Live
- Server Token: Supplied by OpusVL
- Client ID: Supplied by OpusVL
- Client Secret: Supplied by OpusVL
- HMRC URL: https://api.service.hmrc.gov.uk
- Redirect URL: Use the base URL of your installation ie 'https://your.odoo.uk/'
If you require an HMRC sandbox log-in to test the modules, contact OpusVL for details. No data posted to the sandbox will be saved by HMRC and the data returned is always the same template results.
The following data must be configured in 'Accounting -> Making Tax Digital -> MTD Set-up -> Accounting Set-up':
- Company to which company MTD applies
- MTD journal
- Accounts the company uses for input and oputput VAT
- Account the company uses for VAT liabilities
- The date from which you want the Odoo MTD module to include transactions
The 'Accounting -> Making Tax Digital -> VAT Management' menu offers the following tools:
- Retrieve VAT Periods
- Submit a VAT Return
- View VAT Returns
- View Unpaid VAT
- Retrieve VAT Payments
Details are within the Odoo MTD VAT Management - Operations guide.