A · Glossary
Accounting software
Software that records business transactions, runs reports and submits returns to HMRC.
Accounting software records business income and expenses, generates Profit & Loss reports, manages invoices, and (when MTD-compliant) submits VAT and Income Tax returns to HMRC.
Popular UK options: FreeAgent, Xero, QuickBooks, Sage. From April 2026, sole traders and landlords with £50k+ income must use MTD-compatible software.
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