MTD for sole traders
Self-employed? Here's your bit.
You run the business. MTD just wants to hear about it a bit more often.
What changes
The bits that matter to you
01
Turnover, not profit
Your gross takings count towards the threshold, before you knock off expenses.
02
Updates every quarter
Send a summary of income and expenses for each business, every three months.
03
Pick your software
Choose HMRC-recognised software that fits how you already work.
Get ready checklist
- Separate business and personal bank accounts
- Start recording income and expenses digitally now
- Know your gross turnover for 2024/25 and 2025/26
- Shortlist a few compatible software options
- Note any other income, like rental property
- Speak to an adviser if you have several businesses
Real humans, real help
Rather someone just sorted it?
Tell us about your situation and we'll point you to the right professional support. No jargon, no judgement, no 40-minute hold music.