Finance and tax admin pack
Making Tax Digital for Income Tax starts from April 2026 for sole traders and landlords with qualifying income above £50,000, dropping to £30,000 from April 2027. Quarterly updates replace the single annual return, and records must be kept digitally.
Core pack · 12 documents · 64 pages
The short answer
Making Tax Digital for Income Tax starts from April 2026 for sole traders and landlords with qualifying income above £50,000, dropping to £30,000 from April 2027. Quarterly updates replace the single annual return, and records must be kept digitally.
Who this pack is for
- Sole traders and landlords approaching the MTD thresholds
- Directors unclear on loan accounts and dividend paperwork
- Businesses reimbursing mileage and expenses without a policy
- Anyone deciding whether to register for VAT
- Bookkeepers standardising client month-end
Not for you if: You need tax advice on a specific position. These are records and procedures, not advice.
What it solves
Quarterly MTD updates start and the records are in a shoebox.
A director takes money out with no loan account record.
Mileage is paid at the wrong rate and becomes taxable.
What the law requires
Making Tax Digital for Income Tax
From April 2026 qualifying income above £50,000 brings sole traders and landlords into quarterly reporting, with £30,000 following in April 2027 and £20,000 in April 2028. Digital records and compatible software are required.
Source: GOV.UK, Making Tax Digital for Income Tax
Mileage and expenses
HMRC approved mileage rates are 45p per mile for the first 10,000 business miles in a car and 25p after that. Paying above the rate creates a taxable benefit; a written policy and a claim record keep it clean.
Source: HMRC, travel and subsistence rates
Director's loan accounts
An overdrawn loan account not repaid within nine months and one day of the year end triggers a section 455 charge. Dividends need a board minute and a voucher, and must come out of distributable profits.
Source: HMRC, director's loans; Companies Act 2006
What is in the pack
| ID | Document | Pages |
|---|---|---|
| FIN-01 | Expenses and mileage policy with HMRC ratesHMRC rates | 5 |
| FIN-02 | Invoice templates (VAT and non-VAT)HMRC VAT notice 700 | 3 |
| FIN-03 | VAT registration decision treeHMRC VAT registration | 4 |
| FIN-04 | MTD for Income Tax readiness checklistGOV.UK MTD | 5 |
| FIN-05 | Director's loan account recordHMRC director's loans | 3 |
| FIN-06 | Dividend voucher and board minuteCompanies Act 2006 | 3 |
| FIN-09 | Year-end records checklistHMRC; Companies House | 5 |
And five more: petty cash and card policy, credit control procedure, fixed asset register, payroll starter checklist, month-end checklist.
How updates work
Every document carries a version number and a reviewed date. On the first Tuesday of each month the pack is checked against its primary sources. If anything has changed you receive the updated file and one line explaining what moved and why. If nothing has changed you receive an email saying so.
April and the Budget are the months when most figures move.
Questions
Does this replace an accountant?
No. It is the paperwork your accountant keeps asking you for, in a consistent form.
Is MTD software included?
No. The checklist covers what to have in place and what your software must do.
Are the HMRC rates kept current?
Yes. Rates and thresholds are checked monthly and always in April, and updated documents are sent to subscribers.
Does the VAT decision tree cover flat rate?
It covers the registration decision and flags the flat rate scheme, without recommending a scheme for your business.
How is it delivered?
By email, as Word and PDF files, personalised with your company details.
Sources
Built from published UK primary sources only: GOV.UK, Making Tax Digital for Income Tax, HMRC, director's loans; Companies Act 2006, HMRC, travel and subsistence rates. No secondary or aggregator sources are used.
Order the finance and tax admin pack, or ask about an association licence covering your whole membership.
Email support@kaeltripton.comThese documents are drafted from published UK primary sources and are a starting point you adapt to your own circumstances. They are not legal, tax or immigration advice, and documents you edit become your responsibility.