Self Employment in MTD

Landlord Vision now supports self employment data.  Please note that self employment does not include property data and this should be submitted under UK Property.  You will need to contact HMRC if UK Property is not available on your MTD report.

Firstly, set up a new portfolio and set the Business Type to Self Employment.  Also, make sure that the Year End Date matches what you use for your submissions, usually either 31/03 or 05/04.  The latter is most common and is the default.  It is easier to change it now rather than later and you cannot change it after your first submission.

The self employment portfolio has a very different chart of accounts for recording your incomes and expenses.  You can enter these in the Income and Expenses sections, or from the bank account as discussed in other sections in these notes.  Once done, head to the MTD for Income Tax report under Reports.

* At this time, the Self Assessment for MTD is not quite ready.  We have built it, but it has not yet been given the approvals by HMRC, so you cannot yet link your portfolio, but if you have completed the above steps, you will be ready when we are.

There should be a section under Quarterly Reports within the MTD report that will have your name or business name if you have set one up.  Select this and then press Configure Portfolio to assign your self employment portfolio to this part of the report.  If you have UK and or foreign properties, you will need to submit each section separately.