/ Quarterly Reporter

MTD Quarterly Reporter

Upload the bank statements covering your tax year. Transactions are extracted, grouped into HMRC tax quarters, and totalled ready for Making Tax Digital updates.

Upload 2 to 12 monthly statements in JPEG, PNG or PDF format

Files are processed in memory and discarded. We never store them.

Generating report…

Preparing statements…

Each statement usually takes 20–60 seconds to process.

This report is an AI-generated estimate built from the statements you uploaded. It is not a quarterly update and cannot be submitted to HMRC directly. Check the figures against your records before using them in MTD software.

MTD for Income Tax quarterly updates, explained

Making Tax Digital for Income Tax replaces the once-a-year scramble with a rolling rhythm: digital records kept as you go, a summary sent to HMRC each quarter, and a final tax return after year end. This tool helps with the part that trips most people up, which is turning a year of bank statements into per-quarter income and expense totals under HMRC's category headings.

Who has to do this, and from when

FromApplies if your qualifying income is overStatus
6 April 2026£50,000In force now
6 April 2027£30,000Confirmed
6 April 2028£20,000Announced; legislation being confirmed

Qualifying income is your gross income from self-employment and property combined, before deducting any expenses, taken from the tax return you filed the previous year. Employment income, dividends and pensions do not count towards it. Some groups are exempt, including those without a National Insurance number and, for now, people claiming certain reliefs; you can also apply for exemption if you are digitally excluded.

The quarters and their deadlines

UpdatePeriod covered (cumulative)Deadline
Q16 April to 5 July7 August
Q26 April to 5 October7 November
Q36 April to 5 January7 February
Q46 April to 5 April7 May

Two details matter here. First, updates are cumulative: each one covers from the start of the tax year to the end of the period, not just the latest three months, so a mistake in Q1 is simply corrected in the Q2 update. Second, you can elect in your software to use calendar quarters instead (1 April to 30 June and so on) with the same deadlines; the election must be made before your first update of the year. Full detail is in our quarterly deadlines guide.

Updates are not tax returns

A quarterly update is a summary of business income and expenses by category. No accounting adjustments, no reliefs, no tax calculation. All of that happens after year end, when you finalise your position and submit your tax return through your software by 31 January following the end of the tax year, the same date the tax is due.

What happens if you miss a deadline

Late submissions earn penalty points: one point per missed deadline, and a £200 penalty once you reach four points, plus £200 for each further miss. Points drop off your record after 24 months for those who stay under the threshold. For the 2026/27 tax year HMRC is not issuing points for late quarterly updates, giving the first wave of mandated taxpayers a year to settle in, but the tax return deadline still carries penalties.

How this tool fits in

Upload the statements covering your tax year (up to 12 files). Every transaction is extracted and categorised, grouped into the correct tax-year quarter based on its date, and totalled per category, with an Excel export containing one sheet per quarter. If your statements span more than one tax year, the tool reports on the year with the most transactions and tells you what it excluded, so quarters from different years are never silently merged. What it cannot do is submit anything: the totals are a starting point to check and carry into MTD-compatible software.

Frequently asked questions

Do the quarterly figures have to be perfect?
They should be accurate to the best of your knowledge at the time, but because updates are cumulative, errors are corrected in the next update rather than by resubmission. The year-end tax return is where the figures are finalised.
I have both a trade and a rental property. One update or two?
Each source needs its own quarterly updates. Run separate reports for the business account and the property account rather than mixing them in one upload.
What counts as digital records?
Records of each business transaction kept in software or spreadsheets that can link into your MTD filing software. Statements analysed here and exported to Excel can form part of that chain, but the originals should be kept too.
Are my statements stored?
No. Files are sent over an encrypted connection, analysed via Google's Gemini API and discarded. See the privacy policy.
This guide is general information, not tax advice. Obligations depend on your circumstances; check GOV.UK or ask a qualified adviser if you are unsure when MTD applies to you.