TaxMTD
Get Started

Quick Start

Set up TaxMTD in under 5 minutes and start managing your self-employment taxes.

Create Your Account#

Sign up at TaxMTD with your email. Non-VAT registered sole traders can use the free Starter plan with no card required. For paid plans (Essential, Pro, Business, Practice), a 14-day free trial is included.

Set Up Your First Period#

An assessment period is a monthly reporting window used for Universal Credit. Navigate to Settings → Periods and create your first period.

If you don't claim UC, you can use calendar months or any date range you prefer.

Connect Your Bank#

Go to Banking and connect via:

  • Open Banking (Plaid) - automatic feeds from 300+ UK banks
  • PayPal - import sales, purchases, and refunds
  • CSV Upload - manual import from NatWest, Starling, Monzo, and more

Import Transactions#

Upload your bank statement CSV from the Import page. TaxMTD auto-detects the bank format and pre-categorises common transactions using known merchant patterns.

Run AI Categorisation#

Click AI Categorise on the Transactions page. Gemini AI analyses each uncategorised transaction and assigns an HMRC-compliant expense category with a reasoning explanation.

Review & Adjust#

  • Correct any miscategorised transactions - TaxMTD remembers your changes
  • Split transactions between business and personal use
  • Mark personal spending to exclude it from tax calculations

View Your Dashboard#

Your Dashboard shows real-time:

  • Income & expenses breakdown
  • Profit trend charts
  • UC calculation with payment estimate
  • Categorisation progress tracking

Manage Your Subscription#

Navigate to Settings → Billing to:

  • View your current plan and usage against limits (entities, invoices, receipts, team members)
  • Purchase add-ons for extra capacity (entities, employees, OCR bundles) without changing plan
  • Upgrade or downgrade your plan at any time - changes are prorated automatically
  • Access the Stripe Customer Portal to update payment methods or view invoices

The Starter plan is free forever for non-VAT sole traders (no card required). Starter covers day-to-day bookkeeping and MTD quarterly submissions; the yearly Self-Assessment (SA103S) submission to HMRC requires the Essential plan. All paid plans include a 14-day free trial. If you hit a usage limit, you can purchase an add-on or upgrade your plan directly from the billing page.

Stay Informed#

Visit the TaxMTD Blog for expert guides on HMRC rules, tax compliance tips, IT security news, and economic updates relevant to sole traders and small businesses.

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