TaxSimba — MTD for Sole Traders: What You Need to Do in 2026/27
Preparation worksheet

Optional offline planning aid, not a tax return or filing confirmation.
Keep completed notes securely; never include passwords or one-time codes.

WORK THROUGH THIS EXAMPLE
Your sole-trade account receives £700 from a customer and £500 from your savings. Keep the £500 transfer identifiable so it is not counted as another sale. Support the customer payment with the sales record and check any cash receipts separately.

DECISION TO RESOLVE
Can you explain every receipt without assuming that every deposit is turnover?

YOUR POSITION
Relevant year and source: ____________________
Evidence supporting your answer: ____________________
Missing item and who will obtain it: ____________________
Deadline or next review date: ____________________

1. List each sole-trader business.
Notes: ______________________________

2. Prepare gross qualifying-income totals.
Notes: ______________________________

3. Identify cash, bank and platform record sources.
Notes: ______________________________

4. Agree the monthly record handover and quarterly sender.
Notes: ______________________________

5. Confirm year-end return and other-income responsibilities.
Notes: ______________________________

Actions agreed and responsible person:
____________________________________

Guide: https://taxsimba.co.uk/blogs/mtd-for-sole-traders-2026-27
Check the current guide and official sources before relying on a deadline or process.