Looking at that spruce i may well get away with 100Ah ! Thank you for that .

Quote from: Jay Le Huray on July 02, 2025, 08:47:53 am

https://www.facebook.com/watch?ref=tab

sorry wrong  video  came  up

So are you going to put up the right one? 

Quote from: Bungle on July 01, 2025, 10:16:49 am

I like the single Ukrainian ladies one best. Might click on it one day.

I don't get any of those, methinks the ads are based on personal browsing history Bungle, what have you been looking at 

Oh bollix. I've been rumbled 

Yes Daz.  I will be using 123 Sheets.  The trail version is only there to see how it works (So you can get to grips with how things are done avoiding panic when the time comes).  I won't be using the paid version until the time comes to submit the quarterly figures.  It's only £19 per year for one license.  It's worth paying a little rather than a free one to cover a little customer service if you need it.

I've only got ready with my end of things ATM so it's ready to work with 123 sheeets and compliant with going fully digital.

Quote from: dazmond on July 01, 2025, 06:29:26 pm

Quote from: The Jester of Wibbly on July 01, 2025, 03:42:44 pm

Quote from: dazmond on July 01, 2025, 03:15:51 pm

Quote from: The Jester of Wibbly on July 01, 2025, 09:09:34 am

You still now need to to keep all expenses recorded digitaly.  Paperwork will be a thing of the past.   

HMRC can request digital copies any time they want.
That's how HMRC will now roll.  If you get investigated or your spot checked, you won't need to pay them a visit.  You'll be asked for what documents they want to check, they will open a portal for you to upload your digital files.  They then check tnem.

It's to simplify things for HMRC.

Also a little hack to make it simple to find expense recipes is to store them on your cloud and link them directly to your full expense spreadsheet.   Click on the expense and up pops your receipt.

I'm sure you'll be able to screenshot expense invoices if need be....or even photos of paper receipts or even download bank statements.

Remember this is ONLY if you get a spot check or investigation. HMRC are not interested otherwise.

Turnover
Expenses
Profit

And the evidence to back it up is all that's required.

I do need to store evidence of all my business expenses digitally for my own peace of mind instead of paper receipts/invoices in a plastic folder for that tax year. I'm not sure what I'm going to do yet.....

Yes absolutely correct.  I am now just taking photos, for example, diesel receipt, them immediately uploading to my cloud stored in monthly folders per year. (I always find till receipts fade after a couple of years anyway) I then enter them into my spreadsheet linking the cell to the actual receipt.  I have gone paperless with my bank, so I just download them from my app, then upload them to my cloud.  Any electronic invoices from purchases go straight into my monthly folder too, again digitally linking it to my spreadsheet.    Every month I get a monthly invoice from Sumup and Go Cardless, and once again follow the same method.

Don't forget online banks now only store your statements for no more than two years, so don't get caught out.

Keeping digital copies of everything will become law once you've gone MTD.  However there is nothing stopping you from also keeping hard copies of it helps you, but would be a wasted exercise to make a habit of.

So it's worth getting used to the practice as soon as possible so it's not daunting and huge changes when the time comes.  I am sure there will be a couple of last minute people panicking.  So get rid of future anxiety and start planning now.

I now have zero paperwork, no more printing and filing. It's so much easier.

Surely you don't have to photograph diesel receipts if you pay by card/phone as its all there in your bank statements?

I personally will still keep all paper receipts/invoices too in a plastic folder for that tax year as I don't want to rely solely on digital means.

And you said before on a previous post you pay for diesel with cash?    I think you would need proper receipts too to show what you purchased and where from.  I don't think bank statements are a substitute for invoices.   

As long as your storing your receipts digitally on cloud you'll be safer than storing hard copies.    But do what you want anyhow, there is no harm in doing both.   I'm just trying to help to ease the pain of these changes after putting in a lot of research and talking to many professionals in the financial industry.

I've appreciated the research and posts you have made regarding MTD. Thank you.