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 you must use an approved cloud based accounting system like QuickBooks and you must from April 2026 use that system to submit a profit and loss account to them every three months.