HMRC are introducing Making Tax Digital for income tax self assessment from April 2026. The "shoebox method of accounting " will no longer do for proprietors of small businesses used to leaving it all till that box of receipts and bank statements is handed to the accountant at year end.

HMRC says that from from April 2026 you must  submit a profit and loss account to them every three months.

The easiest way to achieve this is to use a cloud based accounting system approved by HMRC.