MTD for Income Tax: coming soon
Making Tax Digital for Income Tax is on our roadmap. This page describes what we plan to offer; it isn't available in Figurs yet.
What is MTD for ITSA?
Making Tax Digital for Income Tax Self Assessment (MTD ITSA) is HMRC's initiative requiring sole traders and landlords to keep digital records and submit quarterly income updates. From April 2026, sole traders with turnover above £50,000 must comply, with the threshold dropping to £30,000 shortly after.
We plan to build MTD into Figurs rather than bolting it on. The aim is for every part of the platform, from bank reconciliation to expense categorisation, to feed directly into your quarterly submissions.
How Figurs Will Handle MTD
Quarterly Updates
Figurs will aggregate your income and expenses into quarterly periods. You'll be able to review and submit to HMRC with one click.
End of Period Statements
After your quarterly updates, Figurs will help you prepare and submit End of Period Statements (EOPS) with accounting adjustments and corrections.
Obligations Calendar
Figurs will sync with HMRC to show your obligations calendar with clear indicators of what is due and when.
Final Declaration
You'll complete your tax year with a Final Declaration to HMRC. Figurs will calculate your tax liability and handle the full submission workflow.
Designed for the UK Tax System
Figurs will use HMRC income categories for property income, trading income, and other sources, with your bank transactions categorised into the correct HMRC reporting categories.
Important: MTD for ITSA has applied to sole traders with turnover above £50,000 since April 2026, and the threshold drops to £30,000 shortly after. Figurs doesn't support it yet, so you'll need other compatible software for now.