We set up The Tax Kit in response to MTD, to provide support to smaller scale traders, self-employed and the gig economy, who are poorly served by traditional accountants existing accounting software. Our aim is to provide them with a low cost way to prepare and submit their Income Tax returns themselves, without the unnecessary cost and hassle of an accounting system designed for larger businesses.

When we heard about the new rules around VAT filing we decided that we should really do something about that too. Hence, we’ve made a slight detour from our original plan to produce this VAT bridging software. This side track reflects HMRC’s change in tack on MTD to start with VAT, rather than to target lower paid self-employed traders as they had originally intended.

Next we’ll be back to completing the development of our Income Tax accounts and return submission module, which is intended to be our main module. We’ll then start looking at further tools to help business people plan and control their business and finances.