Today I sent in my first successful quarterly update using Pandle. I had to sign up for Making Tax Digital with HMRC first. To set Pandle up for MTD for Income Tax, first you need to go to Company Settings / Integrations and enter your National Insurance Number. Whilst in that screen, click on the…
Read more
I’ve just sent in my first successful quarterly update with VT Transaction+ . I had to sign up for Making Tax Digital with HMRC first. The first time you use VT Transaction+ for MTD, there is some basic setup to do. All MTD settings can be accessed by clicking the “MTD” option on the top…
Read more
Earlier this month I met with a lady who has kindly agreed to be a bookkeeping case study for me. We discussed the nature of her business, how she currently keeps her receipts and records, and any other software she uses in running her business. We started by looking at what she’s doing currently: keeping…
Read more
For the last 17 years, I’ve been self-employed running my own accountancy practice. Here’s why I’m scaling back the amount of “done-for-you” compliance work that I do. Making Tax Digital for Income Tax Making Tax Digital (MTD) for Income Tax has been on the cards for 8 years now. That’s given me plenty of time…
Read more
As an independent sales representative (eg, Avon), it’s tempting to think of the commission element as being your “income” for tax purposes. After all, that’s the only bit you get to keep. But the way it’s viewed for tax purposes, is that you’re buying the products from Avon at 70-100% of the selling price, and…
Read more
Whether you do your own bookkeeping, or your accountant does it for you, chances are you’ve come across the term bank feed. But what is a bank feed, and do you really need one? What is a bank feed? A bank feed is a feature in bookkeeping software that automatically pulls your transactions in from…
Read more
Tax is changing! But not for everyone. Here’s a quick reminder of what’s changing this year and for whom. 2026-27 (tax year starting 6th April 2026) Making Tax Digital (MTD) only starts on 6th April 2026 if the total self-employed and rental income (before expenses) shown on your 2024-25 tax return was over £50,000. If…
Read more
There’s no easy way to answer that. The landscape is constantly changing and new products are coming to market all the time. But here are a few things to consider: 1. Are you looking for free or paid-for software? Although HMRC aren’t providing any free software, they have been encouraging software developers to provide MTD…
Read more
It all depends on where you’re starting from, and whether you use more than one software package to handle your business record-keeping. If your business is straightforward, Making Tax Digital should be too. The main changes will be to make sure the way you keep your bookkeeping records in a way that complies with Making…
Read more
Despite the advantages of using software, what if you’re happy using spreadsheets for your bookkeeping and don’t want to change? In this blog, I explore a free bridging software solution that enables you to keep using spreadsheets and still comply with Making Tax Digital. Making Tax Digital and spreadsheets If your combined income from self-employment…
Read more