Making Tax Digital for self-employed people
Making Tax Digital (MTD) is HMRC's move to digital record-keeping and regular online updates instead of one big year-end form.
What it means for you
If your qualifying income is over the HMRC threshold, you'll need to:
- Keep digital records of your income and expenses.
- Send quarterly updates to HMRC using compatible software.
- Finalise your year digitally.
Exact thresholds and start dates depend on HMRC's timetable and your circumstances — check your own MTD status with HMRC or your accountant.
How Vecti fits
Vecti is compatible tax software built for Making Tax Digital — not HMRC-endorsed. Where the feature is enabled for you and you're connected and ready, Vecti can submit your self-employment quarterly updates from your records, and check the figures first. The final year-end declaration is designed to be handled by an accountant.
Vecti's tax figures are estimates for guidance and may differ from HMRC's or your accountant's final numbers.
Join the waitlist to use Vecti for MTD when it launches.