The Business Toolkit is designed to support sole traders and limited companies with their invoicing, bill payments and expense management. If you are VAT registered, you can start recording VAT on your transactions, connect your toolkit to HMRC, and submit your VAT return digitally to comply with Making Tax Digital.
If you’re a sole trader, the toolkit estimates your self-employment tax to help you set aside money to pay your tax bill. At the moment, the toolkit doesn’t support corporation tax for limited companies.
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