Frequently Asked Questions
Here are some of the commonly asked questions you might have about our service. If you have further general questions please let us know!
MTD Pilot questions
How do I join the HMRC Pilot?
The only way to join the pilot prior to April 2023 is through software developers such as ourselves. As the pilot is restricted not all individuals will be eligble due to their different sources of incomes and accounting arrangements (please see list below). The process is therefore a "hand holding" process where we work with HMRC to onboard you to the pilot and make sure everything is working correctly. To do this, the approximate steps are as follows:
- Sign up to TaxSheets and create a free account in our Early Bird scheme.
- Download a Small business spreadsheet (we currently do not offer the > £85k spreadsheet for free) and start testing and inputting your figures
- Once you wish to join the pilot, create a support ticket with your National Insurance number in it
- We will forward this to HMRC who will check your eligibility
- Assuming that you are eligible, HMRC will provide an onboarding date when you can complete the signup process with us and they will monitor that everything has been successful.
- From there, further hand holding will be arranged when, for example, you make your quarterly or year end submissions.
Please note that we do not expect to start on-boarding people into the pilot until September 2022 to allow us to fully test the system ourselves first. If you are full time self employed and uber keen to try it - irrespective of bugs and issues that may occur, please contact us for a conversation!
The current requirements for approval onto the pilot are:
- You are already registered for self assessment
- Your income only comes from self employment or property (although we do not support properties at present)
- There are no hidden flags within HMRC (we will not be told why, but if you are unsuccessful in being approved you may contact them for further information)
- Your accounting period must follow the tax year (please note we do not support non tax year aligned businesses at present anyway)
The processes outlined above apply to all ITSA MTD compatible software, and is not a reflection on TaxSheets.
With the delay till 2024 why bother?
Whilst the compulsory submission of MTD data for individuals has been delayed there is no reason not to get on board by either joining the pilot or our early bird scheme. Your accounting processes will be future-proofed by making any necessary changes now.
Nearer the time many companies will try to sell expensive software solutions and TaxSheets are keen to get started early in showing users that this isn't the case.
If I join the early-bird scheme will I be charged later?No you won't. You'll remain on our free plan unless that isn't suitable for your needs in which case you'll need to upgrade at your convenience
Will I definitely be able to join the pilot in 22-23 with TaxSheets?We certainly hope so. Our director is currently using the same spreadsheets as are available here and is hugely keen to get submitting data asap. However we are only going to enable that feature to you when our director is able to submit his figures and the processes can be tested "live". There are some very significant differences between the test and live areas from HMRC and need to make sure that the switchover is tested from our end and as painless for you as possible. Again, this applies to all providers and may well delay access through their tools as well.
My qualifying income is less than £10k. Why should I sign up to TaxSheets?
If your self employed income is less than £10,000 you do not need to submit quarterly updates for your business and you may do your annual updates as you currently do.
If however you you need to declare other income (such as from employments or dividends) then our spreadsheets make this process much quicker and easier. How? Because rather than telling HMRC every year which data you'll be providing, our platform enables you to only upload the spreadsheets you already know you need! We aim to make our process quicker than HMRC's - saving you time. Plus if your self employed income exceeds £10,000 in the future, you will be ready and setup to go.
I will be eligble for MTD - why should I use your paid services?
Our free service will be applicable to those who are solely self employed and have no other income to declare. If however you receive income from other sources (such as employments or dividends) you will need to separately submit this data to HRMC through their platform as well.
This is where TaxSheets is uniquely placed. For a very low cost, you can submit all your annual income declarations in one single place, quickly and easily. Furthermore, we provide you with free spreadsheets to help you keep track of your figures.
If this doesn't apply, then our free service will be sufficient! However we always keep the proviso that if our free clients demand too much resource, the service may become unsustainable and be withdrawn in the future. That is definitely not our plan, hope or intention!
I already use software - will that not suffice?Most likely it will and your software provider should update nearer the time to reflect the HMRC requirements. We are not working against those providers, rather offering a service for people who use spreadsheets for their accounts instead.
What is the Beta mode?Our Beta mode means our system has passed Alpha testing and it is now usable by the public. However there are key differences between HMRC's test platform and the live version. As such we ask you to be extra vigilent and report any concerns or issues to us straight away.
Do you support property businesses?At time of launch we don't however we intend to do so as soon as possible.
Do you support accountancy practices?Currently our tools are geared towards individual users as we appreciate that Accountancy firms will probably use package software. If you don't and are interested in partnering with us, please contact us.
What are Oauth tokens and do you store them?
The way that TaxSheets communicates with HMRC is through a method called Oauth. This is widely used on millions of transactions around the world by companies such as Facebook, Twitter and generally any large websites where developers interact with a companies data. The Oauth token allows us to speak with HMRC on your behalf.
Once we connect to HMRC the tokens are stored in our database. Whether they persist after you logout is up to you and can be defined in the "My Account" area of the portal.
Do you offer refunds?Currently we do not offer refunds. You may cancel your subscription from the "My Account" page and that will stop Paypal auto-renewing in a years time.
What support do you offer?Our support is designed to help you use our tool and the spreadsheets you download. We cannot tell you which figures should go where but will do our best. Our service is designed to take the figures you provide and give them to HMRC. Our support does not get involved in the figures themselves as that side of things is left to you.