MTD

Yes, Hannahshp. You will need to transition from QuickBooks Self-Employed (QBSE) to remain compliant with current regulations. The original QBSE app does not support the new Making Tax Digital for Income Tax (MTD IT) requirements.

To ensure your records meet these standards, QuickBooks recommends switching to the Sole Trader Plus plan, which is HMRC-recognised for MTD submissions.

When you migrate, your data transfers with you. This includes up to seven years of bank transactions, invoices, mileage, and receipts. However, we highly recommend manually backing up your historical records before starting the process:

1. Navigate to Reports and select Standard reports.
2. From the Tax details section, select a tax year.
3. Click the Download.
4. Repeat for each year stored in QuickBooks.
5. You should also export your Profit and Loss statements, Mileage logs, and Receipts using the same download menu.

Once the migration begins, please refrain from adding new transactional data until you receive a confirmation email. This ensures a clean transfer and prevents duplication errors. After the move is complete, you will be prompted to answer a few brief questions to help configure your new account.

If your QuickBooks Self-Employed subscription was purchased through Apple or Google Play, you will need to contact our support team for assistance with the switching process, as it is slightly different.

If you have any concerns, feel free to reply here at any time.