How do I see my live tax bill estimate in Monzo’s Making Tax Digital tool?

As part of Making Tax Digital, HMRC will be providing a live tax bill estimate to businesses based on the information that they submit each quarter.

This means that this tax bill estimate will be more accurate the closer the customer gets to the end of their tax year, as more business finances will have been submitted and used to calculate your tax bill estimate.

You can only see your tax bill estimate in the Monzo app once you have submitted at least one quarter to HMRC.

Once you have submitted a quarter to HMRC, you can see your tax bill estimate by going to the Manage Tax section of the app, where it will appear at the top of the screen.

If you tap on the Estimated tax bill section, you can see a breakdown of how HMRC worked out this estimate and the taxes you pay, as well as any message that HMRC have sent to your business.