VT Software – What You Need to Know

How VT Software Handles MTD for Income Tax

VT Software's MTD for Income Tax quarterly submission capability is available in VT Transaction+, VT Cash Book, VT Report, and VT MTD for Excel as of April 2026, at no additional cost to existing subscribers. The same VT file can be used to submit quarterly updates for all of an individual's income types — self-employment, UK property, and foreign property — as well as VAT returns if the client is VAT-registered.

Quarterly submissions in VT work by submitting cumulative year-to-date totals of income and expense categories to HMRC. These categories align with those on the Self-Assessment tax return. If a taxpayer's income from self-employment or UK property is below £90,000, they can elect to report simplified expense categories. Both cash basis and accruals basis accounting are supported; accruals basis is confirmed at year-end by a simple setting change in the software or in the year-end tax software.

VT Software: Bookkeeping and Accounting Only — No Property Management

VT Software does not include any property management tools. It is a bookkeeping and accounting platform. Tenant management, rent tracking, compliance certificate reminders, HMO unit management, joint ownership automated profit-splitting, and tenancy document generation are completely outside the scope of VT Software's products.

VT Software: Full-Featured Desktop Bookkeeping with Deep Excel Integration

VT Transaction+ is a fully featured desktop bookkeeping program built on double-entry principles, with an integrated ledger structure including a cashbook, customer and supplier ledgers. It can handle an unlimited number of accounts and transactions, from simple incomplete-records jobs to companies with hundreds of thousands of transactions. Data entry is notably fast — a quality consistently praised by long-term users.

VT Software: Fast Desktop Data Entry with Unlimited Invoicing

VT Transaction+ supports unlimited invoice creation with no restrictions on the number of invoices or transactions. Data entry is consistently noted for its speed by long-term users — one of the most frequently cited advantages of the desktop-based workflow. Bank statement files can be imported in bulk to populate records. However, VT Software has no automated bank feeds via open banking, no AI-powered expense categorisation, and no OCR receipt capture. Expense management is a manual data entry and categorisation process.

VT Software: Comprehensive Reporting and Accounts Production

VT Transaction+ generates profit & loss accounts and balance sheets, which can be displayed in tax return format and exported to other systems, including Microsoft Office. VT Final Accounts (included in the VT Accounts Suite) is an Excel add-in that produces a full set of financial statements under FRS 102 and FRS 105, including balance sheets and income statements, from which iXBRL files can be generated and submitted to Companies House. VT Fact Viewer is an iXBRL file viewer. This full accounts production capability is well beyond what RentalBux currently offers, making VT Software a more complete solution for accountants who also need to produce and file statutory accounts for their clients. Tax forecasting is not a confirmed VT feature.

VT Software's Collaborative Features

VT Software is a desktop program. Data files are stored on the user's PC. Multi-user access is not a native feature in the same sense as cloud software — VT's FAQ confirms that to give an accountant access to VT data, the data file must be shared (for example, via a shared network drive or file transfer). VT Transaction+ does support agent submissions via Agent Services Account (on the VT Accounts Suite plan), which allows accountants to submit MTD quarterly updates for clients. However, the software does not run in a browser and there is no mobile app — accountants and clients cannot both log in remotely to the same live records as they would with a cloud platform.

VT Software's Ease of Use

VT Software's products have a 25+ year reputation for speed, simplicity, and reliability. Long-term users on Trustpilot and AccountingWEB consistently describe the software as fast, flexible, and excellent value. One Trustpilot reviewer described VT as superior to Xero, QuickBooks, and FreeAgent for data entry speed and workflow. Another noted it as "way ahead of its time" at launch. Customer support is provided by phone (020 8995 1142) and email, with comprehensive user guides, video guides, and an FAQ library on the website. VT has only 5 Trustpilot reviews — a reflection of its primarily accountant-focused user base rather than an indicator of quality.