Clear Books Free - MTD for Income Tax overview скачать в хорошем качестве

Clear Books Free - MTD for Income Tax overview

MTD for Income Tax is the digitisation of Income Tax for the self employed and those with income from property. It's rolling out in waves and is mandatory from April 2026 for those with qualifying income over £50,000 (then next year from £30k, then £20k). Individuals will need choose HMRC-recognised software, and sign up to MTD for Income Tax with HMRC. The £50k threshold is measured against your total gross income from self-employment and property reported on your previous traditional tax return (there are a few minor "gotchas" so it might be easier to opt-in early). Under MTD for Income Tax, you must use HMRC recognised software, like Clear Books, to keep digital records and submit income and expenses quarterly as part of calculating your tax position - and later, to file your MTD Income Tax Return at the end of the year. This video shows how to use Clear Books for MTD for Income Tax, using our free plan for those with basic needs. You can read through our support guide for more details here: https://support.mtdincometax.clearboo... Simple, right? Now you can set up your free Clear Books account for sole traders and property, and get on top of MTD for Income Tax! Sign up for the free plan with Clear Books: https://www.clearbooks.co.uk/free-mtd... Timestamps 0:00 Introduction 0:28 Set up a bank feed 01:03 Explaining bank transactions (from your bank feed, or CSV import) 02:19 Auto Explain, which automates your bank explain 02:57 Manually Recording Income and Expenses 04:21 Connect to HMRC, and set up for MTD for Income Tax 05:36 Quarterly Update submission to HMRC 06:20 Upgrade path For more help, see our full list of guides: https://support.clearbooks.co.uk/supp...