Record income and expenses
Tap in money in and out. Edit an entry if a figure or date was wrong.
UK sole traders & landlords · MTD is live
Built for MTD: track income and expenses, submit quarterly HMRC updates
TaxCycle is simple to get started. Log money in and out on your phone, keep the digital records MTD needs, and submit quarterly updates to HMRC in the app—no retyping from a sheet.
Clearer than a spreadsheet you might break. Helps you stay on top of your updates when your first quarterly update is coming up.
- Easy to get started
- Submit quarterly updates in the app
- MTD for Income Tax is live
Not tax or legal advice. Check your own deadlines with HMRC; you may still need to complete your annual Self Assessment.
Built for UK sole traders and landlords
Many self-employed people and landlords are now on Making Tax Digital for Income Tax. You should already be keeping records; slipping behind on quarterly updates makes mistakes and missed deadlines more likely.
- Who: trade or rental income, and you want MTD handled in one app—not a pile of notes.
- Outcome: cleaner figures when a quarter ends, less panic when HMRC is waiting.
- Why TaxCycle: log as you go, then submit quarterly updates to HMRC from the app when you are due.
MTD is live
Making Tax Digital for Income Tax is live
MTD for Income Tax is live. Since 6 April 2026, many sole traders and landlords with qualifying income over £50,000 must use it. You should already be keeping digital records and staying on top of quarterly updates to HMRC. Your first quarterly update may be approaching or due soon—check HMRC for your dates. Quarterly updates are not the same as your full annual Self Assessment, which you may still need to complete. Lower incomes follow on HMRC’s timetable.
- Who is in scope: depends on your income and HMRC rules—confirm on HMRC whether MTD applies to you and from when.
- What you need to do: keep digital records that meet MTD rules and send each quarterly update on time—not only a once-a-year dump of figures.
- Stay on top: use TaxCycle to log through the year and submit quarterly updates to HMRC so nothing catches you off guard.
Thresholds and dates are set by HMRC and can change. Always confirm your own obligations on the official HMRC website.
In the app
What you can do in TaxCycle
Log, review, and submit quarterly updates to HMRC by each due date—stay on top of MTD without extra tools.
Categorise entries
Tag lines so your year sorts cleanly before you review or file an update.
View tax-year summaries
See totals and patterns in one view instead of merging exports by hand.
Notes and receipts
Add context or attach a receipt where the app supports it.
Submit quarterly updates to HMRC
Send each quarterly MTD update through TaxCycle on schedule. This is the update HMRC requires for MTD—not your full annual return.
Use it on your phone
Built for quick updates between jobs or tenancies—no setup hassle.
Practical choice
Why not just use spreadsheets?
A spreadsheet—or no system at all—often breaks when HMRC wants a clear trail and quarterly updates. TaxCycle links what you log to what you send.
- One wrong cell can quietly wreck months of figures.
- Receipts live in inboxes and folders, not next to the line HMRC will ask about.
- TaxCycle is built for MTD: log here, review here, submit quarterly updates here—less copy-paste.
- You swap end-of-quarter guesswork for a routine you can repeat.
How it works
Three steps
Repeat them through the year.
Log as you go
Add income and expenses when they happen—minutes now, not hours later.
Tidy as you log
Categories, notes, attachments: keep each line explainable before the quarter ends.
Submit each update
Review the period, then submit your quarterly MTD update to HMRC in the app. Handle your annual Self Assessment separately if HMRC requires it.
MTD is live—stay on top of your quarterly updates
You should already be keeping records; your first quarterly update may be coming up. Log income and expenses and submit updates to HMRC from one place—straightforward to pick up. Stuck? Contact support—we answer in plain English.