Making Tax Digital MTD - software

Do accountants tend to favour one over the other regarding submissions to HMRC, as mine are currently evaluating and will get back to me individually, I assume different ideas for different sizes of business.
They all work based on monthly subscription fees I assume?
 
I use Xero, but if you're just doing a self assessment a lot of it can be done directly on the HMRC website??
 
Will need to find a good solution fory wife's taxes. Self employed, no staff, very simple books - just want the easiest solution really.

Watching with interest!
 
MassiveJim said:
i use excel and plan on using a bridging software to upload the submissions.
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This.

Look at something like GoFile, they have bridging software to upload MTD self employment off a spreadsheet now. I think its about £5 month for individuals

gofile.co.uk

Income Tax MTD Software | File Quarterly Updates | #GoFile

File Income Tax (MTD) Quarterly Updates with Making Tax Digital. Stress-free, simple Income Tax software trusted by 50,000+ UK users. Get Started for Free.
gofile.co.uk gofile.co.uk

I've used them for years for doing MTD VAT returns.
 
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Destination said:
I do similar but they will now want stuff quarterly, and will want it electronically , thats the main issue, thus why i asked.
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If you get setup with Xero (or similar) then it should do it all automatically for you - mine pulls in transactions from the business bank account etc
 
Maccy said:
If you get setup with Xero (or similar) then it should do it all automatically for you - mine pulls in transactions from the business bank account etc
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Aye I can possibly do that, but in my situation, I'm a self employed contractor for NHS services, so it is all rather complex, the final amount I end up getting paid already has multiple deductions made to it, i know the figures and have receipts for all of these, but it means it can't just pull things in.
Nothing overly onorous, but likely have to spend an hour a month putting the correct figures in.
 
Destination said:
I had looked into this as we should be under this umbrella, but seemingly they want you to hold a business account with them, as a v simple sole trader, I have no need of a business account, so doesn't seem to be covered.
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Ah okay. Tbh, I was advised to setup a business account and keep everything business and personal separate.
 
Pretty happy with FreeAgent since I set my business up end of last year (free with Mettle account). I'm doing all my monthly accounting myself....probably still have an accountant for my year end....but tbh a combination of FreeAgent and LLMs....might just do it all myself (yes I know the limitations of LLMs).
 
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