Making Tax Digital: what it means for you
MTD for Income Tax is HMRC's rules for digital records and quarterly updates for some sole traders and landlords. TradeTally helps you keep invoices and expenses organised, then export SA103F-ready figures for your accountant or bridging software. TradeTally does not submit to HMRC.
Important: TradeTally does not submit to HMRC
TradeTally is not HMRC-recognised MTD software and does not send quarterly updates, year-end statements or final declarations to HMRC. If MTD for Income Tax applies to you, work with an accountant or use HMRC-recognised bridging or end-to-end software for submissions. Use TradeTally to keep source records organised and export figures when needed. Check HMRC's current MTD eligibility guidance.
When MTD for Income Tax applies
Qualifying income is gross self-employment and/or property income, not profit. Thresholds step down over three years (GOV.UK). Confirm your own dates with HMRC.
| Start date | Qualifying income | Based on |
|---|---|---|
| From 6 April 2026 | Over £50,000 | Based on 2024/25 qualifying income |
| From 6 April 2027 | Over £30,000 | Based on 2025/26 qualifying income |
| From 6 April 2028 | Over £20,000 | Based on 2026/27 qualifying income |
What TradeTally does today
Digital records all year
Keep invoices, expenses, receipts and mileage in one place instead of rebuilding the year from paperwork.
Organised tax figures
Review income and expense records by tax category before you share them with an accountant or bridging software.
SA103F-ready export
Export a PDF summary aligned to the SA103F box layout, alongside CSV or JSON records when needed.
Accountant access
Give an accountant read-only access to your records, so they can review your books without chasing paperwork.
How to prepare for MTD
Use these steps to keep your records useful whether you file through an accountant or HMRC-recognised bridging software. Confirm your own obligations and dates with HMRC.
1. Check eligibility
Use HMRC's current guidance to confirm whether MTD for Income Tax applies to you and from which date.
2. Keep records organised
Record invoices, expenses, receipts and mileage as you go, rather than rebuilding the year later.
3. Choose a filing route
Share your figures with an accountant or use HMRC-recognised bridging software to submit updates. TradeTally does not submit.
How TradeTally fits into your tax routine
| When | What you do | What TradeTally does |
|---|---|---|
| Day 1 | Set up your business details | A workspace for your records |
| Week 1 | Log your first invoice and expense | Records appear in your dashboard |
| Throughout the year | Add receipts, mileage, quotes and invoices | Records stay organised for tax reporting |
| Before an MTD update | Review income and expenses | Figures ready to export or share |
| Tax year end | Prepare your Self Assessment records | SA103F-ready figures ready to review |
| When you need to file | Work with your accountant or bridging software | Submit through your chosen HMRC-recognised route |
Related guides and tools
Keep tax records organised all year
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