MTD software for sole traders

[AnotherAppleThief]

Have you chosen one yet? It's another expense for small business/sole traders so I want to get it right.

I know it's a while before we have to start using it but I thought I'd begin some research. I like the look of Quickbooks so far. The price also seems more reasonable than others (Xero?) that I've seen.

I also thought I'd read that there was going to be free software to use, does anyone know what this is?

QuickFile (not QuickBooks) is free up to a certain number of transactions and very good value thereafter. Lovely and easy to use. We recommend to all our one man band business clients. May not be fully MTD compliant yet but I’m absolutely sure they will be when / if it actually happens. They were very “on it” for the Vat version of MTD.

Thank you I've just had a good look at their website. Only thing I don't know is I have under 1000 ledgers to get it for free. I don't know what a ledger is? I'm a childminder so have 5/6 invoices to send out each month but have lots of small expenses to put through each month. Still it's a good price even if I do have to pay.

I’m not totally sure how they calculate it either - never bothered to find out - but it will be free for a decent amount of time while you work out if you like it regardless and even if it’s 1000 transactions of any kind that’s 80 a month.

If you don't need a cloud based system, I'd suggest VT (google for VTsoftware), who do a free simple cash book program or a cheap full ledger based system. Both have very simple data entry screens which are more like spreadsheets than traditional accounting ledgers.

I run a small accountancy practice and have loads of small/simple clients using one or the other.

The only downside is that you need a PC or laptop to load it onto.

I would wait. They keep putting it off. No need to rush.

www.sage.com/en-gb/blog/mtd-for-income-tax-postponed/

I opened a mettle bank account alongside my normal business bank account to get 'free agent' for free.