All Ftax MTD for IT products include the Ftax Quarterly update form, the Ftax End-of-Year tax return, and the Ftax Tax Calculation form. These enable you to meet all of your HMRC obligations, including the 4 quarterly updates, the end-of-year tax return entries, the tax calculation display, and the final declaration. Note that most competitors do not offer a single solution for the full MTD for IT tax cycle.
When it comes to recording incomes and expenses and transferring them to the Ftax Quarterly update form you have two choices:
Your spreadsheet with CSV file transfer – the ability to transfer income and expense cumulative period totals from your spreadsheet to the Ftax Quarterly form is included with the Ftax MTD for IT product at no extra cost. Spreadsheet templates are provided which you set up yourself.
The Ftax Cashbook – incomes and expenses are currently entered in the Ftax Cashbook manually, but this is soon to be automated. The solution is much easier to use than CSV transfer and costs only £20 – £25 per tax filer per year. Agents can set up a copy for their client which automatically transfers data to the agent.
The recommended solution is Ftax MTD for IT combined with the Ftax Cashbook, especially if you are not familiar with spreadsheets. The latter is being sold at half price for the 2026/27 tax year. Agents can benefit from a discount when the products are purchased in bulk.