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Reports & tax: Tax filing

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MTD for ITSA quarterly Report adjustment

Currently the MTD reports display the transactions year to date (which is actually what's being filed) but as the year progresses, the volume of transactions will grow and the same transactions will be reviewed repeatedly. It would be better if the MTD quarterly reports show the transactions of that quarter plus any new or adjusted transactions from previous quarters. This could be done by tagging each transaction with either submitted/not submitted on a previous return.

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Harry Walker FMAAT shared this idea  ·   ·  Report…  ·  Admin →
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Gaining Support  ·  AdminDavina Roper (Admin, Xero) responded  · 

Hi Harry, thanks for sharing this idea 😊.

We can see why this would be helpful for customers using MTD for ITSA, especially as reviewing the same year-to-date transactions each quarter could become more time-consuming over the course of the year.

We’re moving your idea to Gaining Support so other customers can vote and add their feedback. This helps our product team better understand the level of interest and the different use cases for this request.

If anyone else would find this useful, please add your vote and share how this change would help your workflow.

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  • Amy Thrower commented  ·   ·  Report

    Yes, this is needed to provide clients with full details of what makes up their returns

  • Carly Welsh commented  ·   ·  Report

    A report that with one click from the MTD for ITSA section of Xero will show you the transactions that make up a specific quarterly return, broken down into each category of income or expenditure, so this can then be shared with clients who do not use Xero or saved for back up purposes of what was included within a return. Preferably this would be able to be exported to a spreadsheet, as well as a PDF option.

  • Samantha Smith commented  ·   ·  Report

    There doesn't seem to be a report showing the underlying transactions being submitted in the MTD (income tax) return the same way as there is for VAT. This is needed both for checking the transactions being included and for sending to the client for approval. Please can this be introduced?