MTD for childminders any one else on here a childminder ?
Question asked by Gina Cutler 4 weeks ago
Is this format as simple as adding income and the adding expenses and them submitting it to HMRC once you register with them
Hi Gina,
Yes, for a childminding business (as a sole trader), the process is designed to be as straightforward as you described.
The simple workflow for managing your records and submitting to HMRC is essentially "Record Income -> Record Expenses -> Quarterly Review & Submit" once you have completed the one-time setup.
There are two methods you can use for record keeping:
- The Simple Record Keeping Method (recommended for low volume)
Please see: How to manually record income & expenses
- The Bank Feed Method (Recommended for High Volume) This method involves connecting your bank account to automatically import transactions, which you then categorise ("explain").
Please see:
How to explain income and expenses on an imported statement.
Lastly, please see: How to submit Quarterly Returns
Tommy
Best answerSo I get the adding the income and expenses but what about the receipts ?? do I just keep them in the paper form as they will of been input as with the paper ones just keep them as evidence.
Hi Gina,
The core requirement for Making Tax Digital (MTD) is that the income and expenses themselves are recorded digitally in your software. If you use the Manual Entry Method or the Bank Feed Method, you are creating the necessary digital records. Therefore, simply recording the expense details is sufficient, and you can keep your paper receipts filed as evidence.
Alternatively, while you don't have to upload them, you can do so, once you have created the expense by heading to Dashboard > Expenses > Click on the paper clip beside the expense to upload the receipt.
Tommy
You must 