About MTD for Income Tax (Self Assessment)
Making Tax Digital (MTD) for Income Tax is HMRC's system for keeping digital records and sending Income Tax updates online instead of filing a single annual Self Assessment tax return. If you are a sole trader or a landlord whose income falls within the MTD thresholds, you submit your figures to HMRC throughout the year and then confirm them at the end of the year.
AccountsPortal connects directly to HMRC so you can do all of this from inside your organisation, using the income and expense figures you have already recorded.
What you will do with MTD for Income Tax
- Connect AccountsPortal to HMRC (a one-time enrolment).
- Tell us which of your HMRC businesses you are reporting for.
- Map your income and expense accounts to HMRC's MTD categories.
- Submit your quarterly updates during the year.
- Submit your annual report (your final figures and adjustments) after the tax year ends.
Which businesses types are supported
When you connect, HMRC tells us what type of business you have. AccountsPortal supports the following MTD for Income Tax business types:
- Self-employment (sole trader)
- UK property
Foreign property is not currently supported.
Before you start
- You must already have a Government Gateway account. If you don't, set one up
on the HMRC website first.
- You must be registered for MTD for Income Tax with HMRC.
- Have your National Insurance Number to hand - you'll need it during setup.