Making tax Digital - 30k - Online seller - Software help

sidneyyoungblood

A bit advice please . 
Just submitted my accounts and been informed by my accountant that I will need to registered for MTD   from next year as my income is over £30k threshold ( I am only over this because of interest from my savings ) ..


I sell mostly using online platforms through my website ,  Ebay , facebook etc .  Can anyone in a simiiar situation recommend software which would suitable , have looked online and there seems a lot out there but no too sure which would be suitable in my circumstances.. Thanks

Dazed_and_C0nfused

sidneyyoungblood said:

A bit advice please . 
Just submitted my accounts and been informed by my accountant that I will need to registered for MTD   from next year as my income is over £30k threshold ( I am only over this because of interest from my savings ) ..

I sell mostly using online platforms through my website ,  Ebay , facebook etc .  Can anyone in a simiiar situation recommend software which would suitable , have looked online and there seems a lot out there but no too sure which would be suitable in my circumstances.. Thanks

Where have you read that interest from savings is a relevant factor in registering for MTD 🤔

Savvy_Sue

I don't know if https://forums.moneysavingexpert.com/discussion/6625009/making-tax-digital-for-income-tax will help? You're not the first to ask!

penners324

Who does business bank with? Many banks offer a free accounts systems as a perk

SVaz

Only income from business and/or property is relevant for MTD itsa.
But as it’s coming for everyone sooner or later then I use Freeagent. 

SVaz

https://www.gov.uk/guidance/work-out-your-qualifying-income-for-making-tax-digital-for-income-tax

LITRG

Hi
We have information about the new Making Tax Digital(MTD) system, on our website: Making tax digital for income tax | Low Incomes Tax Reform Group. This includes how to work out if you are in scope of the new rules, and if you are, when you need to follow the new rules. We also explain how to calculate your gross income for this purpose. Note that savings interest is not included in gross income for MTD.

There are also some tips on what to think about when you are choosing software in our section on digital records, and information about when it might be possible to claim exemption from MTD.

We hope you find it helpful.

sidneyyoungblood

LITRG said:

Hi
We have information about the new Making Tax Digital(MTD) system, on our website: Making tax digital for income tax | Low Incomes Tax Reform Group. This includes how to work out if you are in scope of the new rules, and if you are, when you need to follow the new rules. We also explain how to calculate your gross income for this purpose. Note that savings interest is not included in gross income for MTD.

There are also some tips on what to think about when you are choosing software in our section on digital records, and information about when it might be possible to claim exemption from MTD.

We hope you find it helpful.

Thanks for the link , will have a read over it once I get access to a laptop  ... my accountant says as my turnover is over 50k I have to use MTD ( even though my income is under 30k ) ... Is this correct ?

uknick

sidneyyoungblood said:

LITRG said:

Hi
We have information about the new Making Tax Digital(MTD) system, on our website: Making tax digital for income tax | Low Incomes Tax Reform Group. This includes how to work out if you are in scope of the new rules, and if you are, when you need to follow the new rules. We also explain how to calculate your gross income for this purpose. Note that savings interest is not included in gross income for MTD.

There are also some tips on what to think about when you are choosing software in our section on digital records, and information about when it might be possible to claim exemption from MTD.

We hope you find it helpful.

Thanks for the link , will have a read over it once I get access to a laptop  ... my accountant says as my turnover is over 50k I have to use MTD ( even though my income is under 30k ) ... Is this correct ?

You will be affected by MTD if your qualifying self employed income is over £50k for the year starting April 2026.

Making Tax Digital for Income Tax Self Assessment for sole traders and landlords - GOV.UK

Work out your qualifying income for Making Tax Digital for Income Tax - GOV.UK

As the 2nd link show for the purposes of MTD, turnover and income are interchangeable.

altocumulus

Somewhat confusingly my wife has been sent details of having to change to MTD over the usual Self Assessment. Her annual income from being a sole trader is around £20k. As a pensioner, though, she receives the full State Pension - and yet according to the HMRC website only income from trading and renting counts.....

At least there's over a year to get sorted and find/get used to a different software to MS Money

uknick

altocumulus said:

Somewhat confusingly my wife has been sent details of having to change to MTD over the usual Self Assessment. Her annual income from being a sole trader is around £20k. As a pensioner, though, she receives the full State Pension - and yet according to the HMRC website only income from trading and renting counts.....

At least there's over a year to get sorted and find/get used to a different software to MS Money

For the tax year 2026 to 2027 the threshold is dropping to £20k of sole trade income, at the moment at least.  But who knows what'll actually happen nearer the time.