Category 13
Income Sources
You may have several income streams — each may need to be recorded separately under MTD.
What it is
Qualifying income can include self-employment, UK property, and other categories HMRC counts toward MTD thresholds. Your final declaration must report all taxable income, not only business profits.
Who it applies to
Anyone with multiple trades, employments, pensions, or investments — MTD software may track multiple ‘businesses’ or property rentals.
What you need to do
- List all income streams at the start of the tax year.
- Keep separate records where HMRC or your software requires it.
- Report non-MTD income on your final declaration.
Key points
- Employment income is usually reported via PAYE but still included in final figures.
- Dividends and savings have their own allowances and rates.