Making Tax Digital Bookkeeping Support for Sole Traders and Landlords
Making Tax Digital for Income Tax changes how qualifying sole traders and landlords keep business records and provide information to HMRC. Good digital bookkeeping is the foundation of the process.
Real Key Accountancy provides practical Making Tax Digital bookkeeping support. We can help organise income and expenses, maintain compatible digital records and prepare clear bookkeeping information for quarterly updates or for your authorised tax agent.
Message the team on WhatsApp about MTD bookkeeping support.
What is Making Tax Digital for Income Tax?
Making Tax Digital for Income Tax requires people within the rules to keep digital records and send information to HMRC using compatible software. It is being introduced in stages for qualifying sole traders and landlords.
The exact start date depends on qualifying income and HMRC rules. You should check your position with HMRC or an appropriately authorised tax adviser. Real Key can support the bookkeeping and digital-record side of the process.
How Real Key can help with MTD bookkeeping
- Set up a clear digital bookkeeping routine
- Record business income and allowable business expenses from the information you provide
- Organise digital receipts and invoices
- Reconcile agreed bank accounts
- Identify missing or duplicated bookkeeping entries
- Help you use compatible bookkeeping software
- Maintain records throughout the year instead of waiting until the deadline
- Prepare bookkeeping reports for you or your authorised tax agent
Our work is agreed in writing so you know what is included, what records you need to provide and how often the bookkeeping will be updated.
Who may need MTD bookkeeping support?
Sole traders
Sole traders often receive income through several customers, platforms or payment methods. A regular bookkeeping routine helps keep sales and expenses organised throughout the year.
Landlords
Landlords may need to maintain clear digital records for rent received and property-related costs. Separate records are particularly helpful when more than one property is involved.
Taxi and delivery drivers
Drivers may receive income from several platforms and incur frequent vehicle and operating costs. Digital bookkeeping can bring those transactions into one consistent record.
Tradespeople and local service businesses
Tradespeople, salons, consultants and other service businesses can benefit from organised invoices, receipts and bank reconciliations before quarterly information is needed.
What information should you keep digitally?
Your records may include sales invoices, platform statements, bank transactions, receipts and evidence of business costs. The exact information depends on the business and the rules that apply to you.
Digital records should be complete, consistent and supported by the original documents. Photographing or uploading receipts promptly can reduce missing information later.
Do you need bookkeeping software?
You will need a suitable digital process. This may involve compatible cloud bookkeeping software or another compliant record-keeping arrangement. The best option depends on your transaction volume, business type and the support you need.
Real Key offers QuickBooks bookkeeping support and can help establish a practical routine for sending documents and reviewing your records.
Why regular bookkeeping matters for MTD
Leaving records until the end of the year can create a large backlog. Regular bookkeeping makes it easier to spot missing documents, reconcile bank activity and keep reports current.
It also gives your authorised tax agent cleaner information to review where tax calculations or submissions fall outside Real Key’s agreed bookkeeping scope.
How much does MTD bookkeeping support cost?
Real Key bookkeeping support is quoted after reviewing transaction volume, record quality, software, number of accounts and how frequently support is required. Book a free 15-minute bookkeeping check for a clear recommendation.
We will review your requirements before confirming the appropriate scope and price. You can compare our bookkeeping packages or pricing information.
What Real Key’s MTD service does not include
Real Key is an AATQB bookkeeping practice focused on sole traders and partnerships. We do not provide personalised tax advice or submit Self Assessment tax returns. Where tax advice or a final tax submission is required, you should use an appropriately authorised tax adviser.
We can keep the underlying bookkeeping organised and provide records to you or your authorised agent within the agreed service.
Making Tax Digital bookkeeping checklist
- Check whether and when the MTD rules apply to you
- Choose a suitable digital record-keeping system
- Keep business and personal transactions clearly separated
- Upload receipts and invoices regularly
- Reconcile agreed bank accounts
- Review missing information before each reporting point
- Agree responsibilities with your bookkeeper and tax agent
- Keep supporting records for the required period
Frequently asked questions
Can a bookkeeper help with Making Tax Digital?
Yes. A bookkeeper can maintain digital business records, organise income and expenses, reconcile accounts and prepare bookkeeping information. The precise work depends on the agreed service and the permissions held by the provider.
Can Real Key submit my Self Assessment tax return?
No. Real Key does not submit Self Assessment tax returns or provide personalised tax advice. We can prepare and maintain the bookkeeping records that you or your authorised tax agent may need.
Do landlords need digital bookkeeping?
Qualifying landlords may need to keep digital records under MTD for Income Tax. The start date and requirements depend on HMRC rules and the person’s circumstances.
Can I keep some records myself?
Yes. Responsibilities can be divided, but they should be agreed clearly. For example, you may upload receipts while Real Key records transactions and reconciles agreed bank accounts.
What if my bookkeeping is already behind?
We can assess the period involved, transaction volume and missing information before agreeing a catch-up bookkeeping plan.
How do I get started?
Tell us about your business, current software and the condition of your records. We will explain the bookkeeping support available and provide a clear quote.
Get ready for Making Tax Digital
Start organising your digital records before deadlines create pressure. Real Key offers straightforward bookkeeping support for sole traders and landlords across the UK.
Speak to the team on WhatsApp or request a free consultation.