How do I sign up to Making Tax Digital for Income Tax with HMRC?
In order to use Monzo’s Making Tax Digital submission tool, you need to sign up for Making Tax Digital for Income Tax on HMRC’s website.
Below will explain how to sign up to Making Tax Digital for Income Tax on HMRC's website:
Head to the Manage Tax section of the app and tap on Start setup in the Get ready for Making Tax Digital section.
Complete the first few steps providing information on your business and connecting your HMRC account to your Monzo account.
Next you will need to tap Go to HMRC in the Monzo app. This will open the correct window on HMRC’s website with information about signing up.
Sign into your HMRC account using one of the options on the screen.
The next step contains information about signing up for Making Tax Digital for Income tax. Once you have read this, tap Continue.
HMRC will then ask if you have found compatible software which is Monzo’s tool. Tap Yes then Continue.
Next you need to select when you want to start filing using Making Tax Digital for Income Tax. Tap the correct option for your business then tap Continue.
The next question asks what accounting period you use for your business taxes. Choose the correct option for how you normally file your taxes, then tap Continue.
After this is an optional request as to whether HMRC can email you about Making Tax Digital. Select whether you would like to be emailed about your experience, then tap Continue. If you opted in, you will now need to provide your email address.
The next step contains information about the penalties for not following the rules of Making Tax Digital, such as missing the submission deadlines. Read this carefully then tap Accept and Continue.
Now you will be asked to enter the name, industry, start date and address for each of the income streams or ways you make money. Be sure to fill out separate sections for each type of business or income stream you own. Once you have filled out all the information for each stream of income, tap on Confirm and Continue.
A final summary of the information you entered will now appear. Review each section to make sure it's correct and once this is done, tap on Confirm and Continue.
You should now see a screen confirming you have signed up to Making Tax Digital for Income tax. If you see this, close the window and open up the Monzo app again.
Once you continue the setup for Making Tax Digital in the Monzo app, please tap on I've done this. This will let you continue setting up Monzo’s tool.
For any issues you encounter while using the Monzo app, please get in touch with us. However, if your problem is related to signing up to Making Tax Digital with HMRC, you need to seek assistance from HMRC directly.
Was this article helpful?
Related articles
- What is Making Tax Digital?
- What is Manage Tax?
- How can Monzo help my business prepare for Making Tax Digital?
- Helpful links for Making Tax Digital
- I’m not able to use digital tools for Making Tax Digital, what can I do next?
- How does Making Tax Digital for Income Tax affect me if I have multiple Sole trader businesses/properties?
- What is the Making Tax Digital submission tool waitlist?
- Making Tax Digital for Income Tax eligibility questions support
- What is cash basis accounting and accruals accounting?
- What are the HMRC tax categories for transactions?
- How does split ownership for landlords work with Making Tax Digital?
- Can I swap to a different Making Tax Digital tool halfway through my tax year?
- How do I onboard to Monzo’s Making Tax Digital submission tool?
- How do I add a tax category to my transaction for the Making Tax Digital submission tool?
- How do I split a transaction in Monzo’s Making Tax Digital submission tool?
- How do I log information on money outside Monzo for my business for Making Tax Digital for Income Tax?
- How to submit a quarterly update on the Monzo Making Tax Digital submission tool?
- How do I see my live tax bill estimate in Monzo’s Making Tax Digital tool?
- How do I leave the Monzo Making Tax Digital submission tool?
