Who has to use MTD for Income Tax?
Self-employed people and landlords with qualifying income above the threshold for that year — over £50,000 from April 2026, over £30,000 from April 2027, and over £20,000 from April 2028. Qualifying income is your gross income from self-employment and property before expenses.
What are quarterly updates?
Instead of one annual Self Assessment, you send HMRC a summary of your income and expenses every three months (standard deadlines: 7 August, 7 November, 7 February and 7 May), plus a final declaration after the tax year ends.
Is TaxBridge UK compatible with HMRC?
Yes — TaxBridge UK is the MTD for Income Tax product on the HMRC-recognised BankConverter platform (ref AU4W9P). You register, connect HMRC and submit from bankconverter.co.uk; this site is information and pricing only.
Do I still need my accountant?
That's up to you. Individuals can file themselves, and accountants can use TaxBridge UK to manage every client's quarterly submissions from one dashboard.
Which banks are supported?
20+ UK banks including HSBC, Barclays, Lloyds, NatWest, Santander, Monzo, Revolut, Starling, Halifax and more. In the app at bankconverter.co.uk, upload a PDF or CSV statement today. Automatic Open Banking feeds are built but not yet open to customers.
Are automatic bank feeds available yet?
Not yet. On bankconverter.co.uk the Open Banking integration is built and tested, but it is not open to customers — connecting a bank requires a regulated Open Banking provider and that is not in place yet. Everyone can import transactions now by uploading a PDF or CSV bank statement; we will announce bank feeds when they go live.
What is the final declaration?
After the tax year ends (5 April), you confirm your full-year figures, add any adjustments and reliefs, and submit a final declaration to HMRC. For MTD-covered income this replaces the old Self Assessment return. The deadline is 31 January — you can file it on every plan, including MTD Free.
What happens if I miss a deadline?
HMRC uses a points-based penalty system. Each missed quarterly update or final declaration earns one point; at four points you get a £200 penalty, with further £200 charges for additional misses. Points expire after 24 months of full compliance. Late tax payment also attracts penalties and interest — so filing on time matters.
Where do I actually sign up and file?
taxbridgeukmtd.co.uk is our front page — guides, pricing and demos. The live MTD app is at bankconverter.co.uk: create a free account, connect to HMRC, upload PDF or CSV statements, review figures and submit quarterly updates from your dashboard.
