{"id":152067,"date":"2025-03-23T17:34:46","date_gmt":"2025-03-23T17:34:46","guid":{"rendered":"https:\/\/peraltafinancing.com\/accounting\/introducing-xero-simple-a-plan-to-support-you-with-making-tax-digital-for-income-tax\/"},"modified":"2025-03-23T17:34:46","modified_gmt":"2025-03-23T17:34:46","slug":"introducing-xero-simple-a-plan-to-support-you-with-making-tax-digital-for-income-tax","status":"publish","type":"post","link":"https:\/\/fivemor.com\/?p=152067","title":{"rendered":"Introducing Xero Simple, a plan to support you with Making Tax Digital for Income Tax"},"content":{"rendered":"<p> <br \/>\n<\/p>\n<p>The next phase of Making Tax Digital is coming. In April 2026, Making Tax Digital for Income Tax (MTD for IT) will be introduced, and it\u2019s set to shake up the record keeping, reporting and tax requirements for self-employed people and landlords. For those earning more than \u00a350,000 from self-employment and property, MTD becomes mandatory from April 2026 and it will eventually be extended to any small business or sole trader earning over \u00a320,000 annually.&nbsp;&nbsp;<\/p>\n<h2 class=\"wp-block-heading\"><strong>Introducing&nbsp; Xero Simple<\/strong><\/h2>\n<p>To support you and your clients with MTD for IT, we\u2019re evolving our <a href=\"https:\/\/www.xero.com\/uk\/try-now\/accounting\/xero-accounting-software\/?utm_source=GOOGLE&amp;utm_medium=cpc&amp;utm_campaign=UK+-+B+-+LF+-+SMB+-+Brand+-+Product&amp;utm_content=Xero+Other&amp;utm_term=xero+cashbook&amp;ds_kid=43700080347696701&amp;gclsrc=aw.ds&amp;gad_source=1&amp;gbraid=0AAAAAD0EBI2P-B55EHKDOsPgxkTbgPbK3&amp;gclid=Cj0KCQiAwtu9BhC8ARIsAI9JHalgDZ7b6a1MTQbFd-XFCcBVluyQ8v24kCEbV94E33hgykx_I22Do3gaAnSyEALw_wcB\">non-VAT Xero Cashbook<\/a> plan into <a href=\"https:\/\/www.xero.com\/uk\/campaign\/partner\/mtd-for-income-tax\/\">Xero Simple<\/a>.*&nbsp;<\/p>\n<p>Xero Simple is a new plan that has been packed with new features to support you, and your sole trader and landlord clients, with the next wave of MTD for IT and digital transformation. It has everything you need to get your practice ready now. Plus it\u2019s easy to set-up and start using Xero Simple collaboratively with your clients so you can get them into good digital habits well ahead of the deadline.<\/p>\n<p>Xero Simple includes:&nbsp;<\/p>\n<ul class=\"wp-block-list\">\n<li><strong>Invoicing:<\/strong> Easily create and send professional invoices and quotes (10 per month)<\/li>\n<li><strong>Data capture with Hubdoc:<\/strong>\u00a0 Effortlessly capture receipts<\/li>\n<li><strong>Automatic import of bank transactions:<\/strong> Connect directly to banks or import from downloads<\/li>\n<li><strong>Reconciling and reporting<\/strong>: Automate bank reconciliation and generate powerful reports<\/li>\n<li><strong>Client access:<\/strong> Invite clients into the Xero Simple plan, to make it easier to collaborate and bring them on the MTD for IT journey<\/li>\n<li><strong>MTD for Income Tax: <\/strong>Send quarterly updates and final declarations from Xero. The beta version is available from April 2025, subject to registration and eligibility. (MTD for IT filing will be available in all Xero business plans.)<\/li>\n<li><strong>Streamlined compliance with Xero Tax: <\/strong>Take control of accounts and tax returns (<a href=\"https:\/\/www.xero.com\/uk\/try-now\/accounting\/xero-accounting-software\/?utm_source=GOOGLE&amp;utm_medium=cpc&amp;utm_campaign=UK+-+B+-+LF+-+SMB+-+Brand+-+Product&amp;utm_content=Xero+Other&amp;utm_term=xero+tax&amp;ds_kid=43700080348128863&amp;gclsrc=aw.ds&amp;gad_source=1&amp;gbraid=0AAAAAD0EBI0Bsa67zOHGqQacLlOki7bNo&amp;gclid=CjwKCAiAzvC9BhADEiwAEhtlN08a0LmRdv5IDV0IBa7ZcIRZjfTg9Uq0fL8BVcxgmd3ChpPjkhYGrhoCIowQAvD_BwE\">Learn more about Xero Tax here<\/a>.)<\/li>\n<\/ul>\n<h2 class=\"wp-block-heading\"><strong>When will Xero Simple be available?<\/strong><\/h2>\n<p>The Xero Simple plan launches as a new option for accountants and bookkeepers in April 2025, and will be available for small businesses to buy directly from summer 2025. MTD for IT filing functionality will also be included in<a href=\"https:\/\/www.xero.com\/uk\/campaign\/new-plans-ab\/overview\/\"> the full line-up of Xero UK business plans<\/a>.&nbsp;<\/p>\n<p>If you\u2019re already a non-VAT Xero Cashbook subscriber, you will be seamlessly migrated to Xero Simple in April 2025 when it launches. You\u2019ll get all the great features you already love, plus new tools like invoicing, Hubdoc and MTD for IT submissions (beta, subject to registration and eligibility), all at no additional cost.&nbsp;&nbsp;&nbsp;<\/p>\n<h2 class=\"wp-block-heading\"><strong>What\u2019s next?<\/strong><\/h2>\n<p>MTD for IT might still seem a long way off. But two thirds (67%) of accountants and bookkeepers said dealing with the additional workload for MTD for IT is likely to keep them awake at night.**&nbsp; So now is a great time to start planning ahead.&nbsp;<\/p>\n<p>HMRC is due to start communicating with impacted sole traders and landlords (those with income from self-employment and\/or property of more than \u00a350,000) from April 2025, but there\u2019s no need to wait until April to start getting MTD for IT ready so you can support these businesses. If you want to get a headstart, <a href=\"https:\/\/www.xero.com\/uk\/campaign\/new-plans-ab\/overview\/\">Xero Cashbook<\/a> is available to buy now and will automatically switch to Xero Simple in April.&nbsp;<\/p>\n<h2 class=\"wp-block-heading\"><strong>We&#8217;re here to support you<\/strong><\/h2>\n<p>You\u2019re not alone on the MTD for IT journey, we\u2019re here to support you and your team with migration and onboarding, as well as getting your clients upskilled with simple, easy training. Speak to us if you\u2019d like more information or to discuss MTD for your firm. Check out the Partner Tab on <a href=\"https:\/\/central.xero.com\/s\/\">Xero Central<\/a> to find the best way to get in touch.<\/p>\n<p>Alternatively, you can <a href=\"https:\/\/www.xero.com\/uk\/campaign\/partner\/mtd-for-income-tax\/\">learn more about Xero Simple here<\/a>. And make sure you sign-up for one our MTD for IT and Xero Simple \u2018sneak peak\u2019 <a href=\"https:\/\/xero.zoom.us\/webinar\/register\/3017369404864\/WN_P2TC_DYpQLyCUqF9iSUe0A#\/registration\">webinars here<\/a>. You can also visit our <a href=\"https:\/\/www.xero.com\/uk\/resources\/making-tax-digital\/income-tax-advice\/\">MTD for IT resource hub<\/a> which is regularly updated with advice on MTD for IT, guidance, and insights into how you can make MTD for IT work for you.&nbsp;<\/p>\n<p><em>* <\/em><em>Xero Cashbook is an<\/em><a href=\"https:\/\/www.xero.com\/uk\/campaign\/new-plans-ab\/overview\/\"><em> existing partner plan<\/em><\/a><em> which provides bookkeeping essentials for non-VAT registered clients. This blog refers to the non-VAT version of Xero Cashbook only. Any VAT Cashbook plans you have will be migrated to one of Xero\u2019s business plans in September as communicated previously.<\/em><\/p>\n<p><em>** Xero MTD webinar poll, November 2024<\/em><\/p>\n<p>The post <a href=\"https:\/\/blog.xero.com\/product-updates\/introducing-xero-simple\/\">Introducing Xero Simple, a plan to support you with Making Tax Digital for Income Tax<\/a> appeared first on <a href=\"https:\/\/blog.xero.com\">Xero Blog<\/a>.<\/p>\n\n","protected":false},"excerpt":{"rendered":"<p>The next phase of Making Tax Digital is coming. In April 2026, Making Tax Digital for Income Tax (MTD for IT) will be introduced, and it\u2019s set to shake up the record keeping, reporting and tax requirements for self-employed people and landlords. For those earning more than \u00a350,000 from self-employment and property, MTD becomes mandatory [&hellip;]<\/p>\n","protected":false},"author":1,"featured_media":152068,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[11759],"tags":[15442,824,19124,10975,13032,2167,17927,10933,2961,952,7356,26182],"dealstore":[],"offerexpiration":[],"class_list":["post-152067","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-accounting","tag-compliance","tag-digital","tag-digitalisation","tag-income","tag-introducing","tag-making","tag-making-tax-digital","tag-plan","tag-simple","tag-support","tag-tax","tag-xero"],"yoast_head":"<!-- This site is optimized with the Yoast SEO plugin v26.4 - https:\/\/yoast.com\/wordpress\/plugins\/seo\/ -->\n<title>Introducing Xero Simple, a plan to support you with Making Tax Digital for Income Tax - Som2ny Network<\/title>\n<meta name=\"robots\" content=\"index, follow, max-snippet:-1, max-image-preview:large, max-video-preview:-1\" \/>\n<link rel=\"canonical\" href=\"https:\/\/fivemor.com\/?p=152067\" \/>\n<meta property=\"og:locale\" content=\"en_US\" \/>\n<meta property=\"og:type\" content=\"article\" \/>\n<meta property=\"og:title\" content=\"Introducing Xero Simple, a plan to support you with Making Tax Digital for Income Tax - Som2ny Network\" \/>\n<meta property=\"og:description\" content=\"The next phase of Making Tax Digital is coming. In April 2026, Making Tax Digital for Income Tax (MTD for IT) will be introduced, and it\u2019s set to shake up the record keeping, reporting and tax requirements for self-employed people and landlords. 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