Making Tax Digital · Sole Traders & Landlords
Upload your UK bank statement PDF. MTDPrep reads every transaction, maps it to the correct HMRC expense category, and exports a clean spreadsheet ready for your bridging software — 123 Sheets, Absolute Excel, or VT Tax. No subscription. No setup. No learning curve.
The problem
Since April 2026, sole traders and landlords with income over £50,000 have been required to keep digital records and submit quarterly updates to HMRC. The threshold drops to £30,000 in April 2027, and £20,000 by April 2028 — meaning around 2.25 million self-employed people and landlords will be affected in the next two years.
The big accounting packages will happily sell you a subscription to handle this. But if you've been managing perfectly well with a spreadsheet, paying £30+ a month for software you'll spend weeks learning can feel like a sledgehammer for a small nail.
It's built for people who know their business, just not accounting software — and who don't see why they should have to learn it.
How it works
Download your bank statement as a PDF — no reformatting or conversion needed. MTDPrep reads it directly, whether you bank with HSBC, Lloyds, Barclays, NatWest, or another UK bank.
MTDPrep reads each line and maps it to the correct HMRC expense category — office costs, travel, professional fees, and so on. You can review and adjust anything before downloading.
You get a clean spreadsheet formatted for 123 Sheets, Absolute Excel, VT / VitalTax, or whichever MTD bridging tool you already use. In fact, 123 Sheets — one of the most popular MTD bridging tools — recommends users find a way to convert their bank statements first. MTDPrep is built exactly for that. No copy-pasting, no reformatting.
Now live
Process your first bank statement free. If MTDPrep saves you time, upgrade to Standard for £19/month and process unlimited statements.
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