Making tax digital - software for sole traders etc

[happysteve]

Eh up

Sole trader (not Limited), I do cash basis and my tax affairs are very simple, so I do everything myself on a spreadsheet and submit the numbers online for self-assessment.

I'll be required to use software as part of the UK government's "Making Tax Digital" drive.

There's gov.uk list of software and there are LOTS. Some say "Free" but usually they're only free:
- for a trial period
- if you have a specific bank's business account

At a quick look I can't see anything that's open source and/or genuinely free

I guess I will have to pay for this inconvenience, more costs to pass on...

I don't need anything fancy. I don't need it to do invoices, I'm happy to just type everything in (like I currently do into a spreadsheet).

Anyone got any advice for something simple, reasonably priced etc? Needs to work on a Mac.

Thanks in advance!

 

[Pretty Mouth]

I've just started to look into this. It sounds like our tax affairs are similar, so I'll likely be looking for the same sort of software that you are.

From what I can make out (disclaimer, I could be wrong!), we may be able to continue using a spreadsheet for record keeping, and use bridging software for the quarterly updates (some of the listed software is 'record keeping', some 'bridging', some both). Also I think a lot of the software is web browser based, so I think it should work whatever the operating system (I hope so, I use linux).

I believe Zoho books will be free, though this isn't ready for income tax just yet, though it's in development. Whether it will be any good or suitable for our needs I cannot say I'm afraid.

My record keeping and returns is currently fairly painless, I'd written a list of instructions to follow to do it all, and I only really have to spend a day or so each year on it. It'll be a nuisance having to learn new software, doing updates each quarter and so on.

 

[plugsandsparks]

What tax are you wanting to pay, e.g. for VAT i use MSFT Spreadsheet and an add-on called ANNA MTD, free

 

[happysteve]

I've just started to look into this. It sounds like our tax affairs are similar, so I'll likely be looking for the same sort of software that you are.

From what I can make out (disclaimer, I could be wrong!), we may be able to continue using a spreadsheet for record keeping, and use bridging software for the quarterly updates (some of the listed software is 'record keeping', some 'bridging', some both). Also I think a lot of the software is web browser based, so I think it should work whatever the operating system (I hope so, I use linux).

I believe Zoho books will be free, though this isn't ready for income tax just yet, though it's in development. Whether it will be any good or suitable for our needs I cannot say I'm afraid.

My record keeping and returns is currently fairly painless, I'd written a list of instructions to follow to do it all, and I only really have to spend a day or so each year on it. It'll be a nuisance having to learn new software, doing updates each quarter and so on.

Yep, sounds very very similar to my setup Pretty Mouth.

The "bridging" thing is a really good tip, thanks for that (and potentially Zoho), and wasn't aware many of them were browser based. So thanks very much for your reply!

What tax are you wanting to pay, e.g. for VAT i use MSFT Spreadsheet and an add-on called ANNA MTD, free

No VAT (I'm below the threshold), just income and expenses from the business, and a few quid from savings.

Thanks for the tip about what you use plugsandsparks, I'll look into that

 

[plugsandsparks]

VATs been digital for a few years now, still clinging on to free stuff. However i think my next Corporation tax is also going to be digital, the normal handball method ceases to be available from March 2026, in theory i can get another submission in. So i am also looking for S/W :-(

 

[plugsandsparks]

ANNA MTD have started charging £3.50/submission. Have just tried Best Free MTD VAT Bridging Software for Excel - https://www.comsci.co.uk/100PcVatFreeBridge, and its actually better for my setup as i can go straight from quickbooks VAT calculation, create a spreadsheet and submit from their app using the spreadsheet without any cutting and pasting, all good