Simplified and advanced tagging from untied

If your business or property rental income is £90,000 or less then HMRC allow you to keep the simplest form of accounts without a detailed breakdown by type of income or expense. You may see it referred to as the "short form of the tax return", as "simpler categorisation" or "three line accounting".

For that reason, you'll just see tags such as "business income", "business expense", "property income" and "property expense" in untied.

If you do want to analyse your income by more detailed category, then see this on custom categorisation in untied.

If your income from property or self employment is over £90k in MTD (or is likely to do so), we will enable you for advanced tagging that has MTD categories in place. Get in touch to sort this.