My aim is to make your transition from Self Assessment to Making Tax Digital as smooth and painless as possible. Minimum cost. Minimum upheaval. If you’re happy using spreadsheets, and your spreadsheets contain the information HMRC needs, you don’t need to use bookkeeping software to comply with Making Tax Digital. All you need is bridging…
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Making Tax Digital is a big change for everyone. The challenge is to find a solution that works for everyone – 𝘆𝗼𝘂 (as the business owner), 𝘆𝗼𝘂𝗿 𝗮𝗰𝗰𝗼𝘂𝗻𝘁𝗮𝗻𝘁 and 𝗛𝗠𝗥𝗖. I read a post recently about how accountants need to be looking for efficiencies in Making Tax Digital (MTD) by streamlining processes and making use…
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Making Tax Digital is here now. Does that mean my software testing journey is at an end? Absolutely not! Some software is still in development; other software providers have only recently made their Making Tax Digital for Income Tax features available. 𝗩𝗧 𝗦𝗼𝗳𝘁𝘄𝗮𝗿𝗲 is a UK-based company offering free and low-cost bookkeeping software. Their paid-for…
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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…
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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…
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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…
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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…
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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…
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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…
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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…
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