Whitefield PSC Spreadsheet

This Content Was Last Updated on March 25, 2024 by Jessica Garbett




Our PSC Spreadsheet is an easy way for you to record all of your business transactions, and get them across to us on a paperless basis.

This guide is part of a series. This is the index:


PSC Spreadsheet

Our PSC Spreadsheet is an easy way for you to record all of your business transactions, and get them across to us on a paperless basis.

It is designed to meet all legal record keeping obligations for a business outside of Making Tax Digital (MTD).   Broadly this will be businesses with turnover below the VAT threshold.  VAT is supported in this sheet, but not MTD submissions, therefore businesses registered for VAT can use it, but would need Bridging software to connect to HMRC systems, We do not supply Bridging software, but it should be readily available from a third party, and there are a number of suppliers making this available. Speak to your us if you need advice on this.

Where this sheet is used, we do not need to see any paper work from you such as invoices, bank statements, receipts or mileage logs, although, of course, these should be retained for six years under HMRC requirements.

The system is intended to work with one workbook for each financial year which is updated throughout the course of the financial year. Therefore a new workbook should not be started each quarter, just every year. Because of possible changes in VAT periods and a first “year” of a business being more than four VAT periods the sheet provides for five quarters – most clients will of course only use four.

The sheet is written in Excel – it will function in other formats which read/write to an Excel format, but may give rise to some compatibility issues.

The intended usage cycle each quarter is:

  • You enter up basic data
  • E-mail the sheet to us for checking if you wish
  • If sent to us, we check the data and either e-mail you a corrected sheet, or e-mail you to advise all is in order (in which case, to save bandwidth, we don’t e-mail the uncorrected sheet back)
  • You submit your VAT return (where registered) and start to enter up next quarter

A comprehensive set of instructions and a comprehensive example sheet are also available, so look at these before you start.


Download Spreadsheets and Notes

PSCaccountsformat.xlsx –  this does not support filing of VAT returns for MTD. It could, theoretically, be integrated with bridging software for filing vat returns under MTD but as a firm we don’t support this, and you would need to arrange your own Bridging software if required. For companies trading over the VAT threshold we recommend FreeAgent or another suitable software package. See our section on Making Tax Digital

PSC Spreadsheet User Guide – guidance notes on using the sheet (but there are notes and examples in the sheet itself)