Making Tax Digital for Income Tax, made simple
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Making Tax Digital (MTD) for Income Tax means sole traders above the income threshold must keep digital records and send HMRC a summary of their income and expenses every quarter, followed by a final declaration after the year end. This workbook is where you keep those records. You enter each payment and receipt once, choose HMRC's category from a list, and the workbook builds the cumulative figures for each quarterly update, tracks your deadlines, works out your year-end adjustments and gives you a running estimate of the tax and National Insurance you'll owe.
See how it works
The sheets you will use most, in the order you will use them – shown with the sample data every workbook comes with.
Step 1
The record of every business payment and receipt. What you do: add one line per transaction in the yellow columns.
Step 2
Submission tracker plus the cumulative figures to send for each quarter. What you do: mark each quarter 'Yes' and enter the date when you've submitted it.
Step 3
Income and allowable expenses by HMRC category for each month, with profit and cumulative profit. What you do: nothing to enter.
Step 4
Year-end adjustments, simplified expenses, capital allowances, taxable profit, tax estimate and payment planning. What you do: fill in the yellow adjustment cells at the year end (or earlier to see the effect).
Who it is for
Quick start
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Your download link arrives as soon as payment clears.
We can adapt any prebuilt solution or build something bespoke, with a lifetime bug-free guarantee.
Part of AML Finance Group
Our sister firm, AML Accountancy Solutions, is an award-winning accountancy practice helping businesses and individuals across the UK with their accounts, tax, bookkeeping and payroll.
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