Expensive equipment as your main asset, almost all work on CIS, plus inspection and insurance costs. Here's how Making Tax Digital for Income Tax applies to scaffolders, and when it starts for you.
MTD for Income Tax is measured on gross income before expenses. With hire and erect contracts, scaffolders clear £50,000 comfortably.
Buying tube, boards and fittings builds an asset you use for years, so it's usually claimed through capital allowances rather than expensed in one go. Recording the purchases digitally means the right allowance can be applied at year-end.
Your annual Self Assessment return is replaced by four short quarterly updates and a year-end final declaration, all through recognised software.
Record big equipment purchases separately so capital allowances, not a one-off expense, can be applied.
Your tube, boards and fittings are an asset. Record the purchases so capital allowances can be applied at year-end.
Almost all your work is on CIS. Record what's deducted so it reconciles cleanly at your final declaration.
Certification, inspection and specialist cover are all deductible. Keep them logged and your expense total stays complete.
Your truck, fuel and site travel are core costs. Snap the receipts and they land against the right quarter.
Big kit, big contracts and CIS to reconcile. Clear Books keeps it all recorded and gives HMRC exactly what MTD requires.
Record equipment, CIS and running costs as you go, and send your first quarterly update in minutes.
