You must keep records of all business income and expenses digitally (not just on paper). Every quarter, you must submit a summary of your income and expenses to HMRC.
MTD Assist is a lightweight but powerful tool that fulfils MTD obligations for income tax without the stress, confusion, or clutter of other software solutions.
Which type of digital record should I keep?
Digital record keeping under MTD for Income Tax applies to everyone (whether your income is above or below £90,000), but the way you submit your quarterly updates differs depending on turnover.
You will need to keep a digital record for each type of income source you have. To find the most relevant digital record for your set of circumstances, select one of the options below:
My annual income is below £90,000
My annual income is below £90,000
Click on your income source for more information:
My annual income exceeds £90,000
My annual income exceeds £90,000
Click on your income source for more information: