Intuit has announced the UK launch of QuickBooks Sole Trader designed for those with an annual income under £90,000.
On top of sole traders, it has been designed for landlords with single property income and those in construction.
QuickBooks Sole Trader will allow customers to manage receipts, mileage, expenses, bank transactions and invoices in one place, or via the mobile App, for a holistic view of their finances, whilst simplifying income tax preparation.
The impending introduction of Making Tax Digital (MTD) for Income Tax mandates that those earning over £50,000 annually keep digital records beginning April 2026, with those earning over £30,000 following suit in April 2027. In last weeks’ Autumn Budget, the UK government further deepened its commitment to MTD for Income Tax, by extending it to an additional cohort of sole traders and landlords with income over £20,000 by the end of this Parliament. Over 2.8 million sole traders and landlords are set to be affected by MTD for Income Tax. QuickBooks Sole Trader ensures digital accounting is administered in line with the new HMRC rules and uses AI automation to streamline digital record keeping by mapping bank transactions and expenses to tax categories, and generating income tax estimates.
Nick Williams, product director at Intuit QuickBooks said: “Sole traders are amongst the largest community that do not use accounting software, yet they must create an accurate income tax self assessment every year and prepare for MTD, which will involve quarterly submissions. QuickBooks has been helping small and medium businesses prepare for MTD since 2018 and our new Sole Trader offering provides clear value for both individuals and their accounting professionals, helping them work together to meet tax obligations, manage money, save time, and grow.”
