Momentum360

Momentum360 You didn’t start your business to wrestle with receipts. You’re building something that works for you. But the Bookkeeping? We’ve got you.

It’s confusing, time-consuming, and easy to ignore. Whether you want to learn, hand it over, or check it’s right. Any of these sound familiar?

“I want to grow my business, but I am too busy dealing with the day-to-day work.”

"I could really take on my first staff member, but the prospect of having to be the HR, Payroll and IT department feels extremely daunting."

“I need help with different asp

ects of my business but finding the best service providers will be such a hassle.”

“I need a new website, but I don’t even know what I should be putting on it.”

“I want a business that is bigger than myself.”

“I want to stop working in my business and start working on it.”

Our departments are designed to work together, so that you can always benefit from expert knowledge without having to commit to expensive retainers.

"Why does my bookkeeper keep asking me for receipts? They know I am really busy."We totally get it, you've got a busines...
22/07/2026

"Why does my bookkeeper keep asking me for receipts? They know I am really busy."

We totally get it, you've got a business to run and a hundred plates to spin, but I promise… we're not.

I know it can sometimes feel like we're being annoying when we chase you for receipts, invoices, or a bit more detail about a transaction.

But there is a reason we ask.

We’re not asking because we enjoy adding more admin to your day.

We’re asking because the paperwork behind your numbers matters.

A receipt tells us:

✅ What you bought.

✅ Whether it was genuinely a business expense.

✅ Whether VAT can be reclaimed.

✅ That there is evidence to support the transaction if HMRC ever asks questions.

Without that information, we're left guessing.

And guessing is not something you want when it comes to your accounts and tax and no receipts means no tax deduction.

The boring bit of keeping receipts is actually what protects you.

So the next time your bookkeeper asks for that missing receipt, remember:

We're not being difficult.

We're trying to make sure your accounts are accurate, your tax return is correct, and you have the evidence you need if anyone ever asks.

(Although… we do secretly love it when you send everything over neatly organised. It makes our little bookkeeping hearts very happy 🤓)

Be honest… are you a "receipt uploaded immediately" person, or a "I'll find it later" person?

"I'm glad I have an accountant, so I don't have to worry about mistakes in my bookkeeping."I was chatting to a business ...
21/07/2026

"I'm glad I have an accountant, so I don't have to worry about mistakes in my bookkeeping."

I was chatting to a business owner at a networking event recently, and they told me something I sadly hear way too often.

Every year, they'd throw all of their receipts into a shoebox.

When it was time to do their tax return, they'd hand the whole lot over to their accountant and think, "Job done."

After all, that's what accountants are for... right?

Then they got some bad news.

They'd actually gone over the VAT registration threshold months earlier.

By the time their accountant prepared the year-end accounts, it was too late.

They now had to:

• Register for VAT retrospectively.
• Submit overdue VAT Returns.
• Pay interest and penalties.
• Pay HMRC the VAT they should have been charging from the date they became liable to register.

I asked what had happened.

Their answer was:

"I thought having an accountant meant that everything was under control."

The reality was that their accountant hadn't done anything wrong.

They'd been engaged to prepare the tax return from the information they'd been given.

But if your accountant only sees your bookkeeping once a year, they can't tell you when you are expected to cross the threshold.

And here's the part that really hurt.

The business owner hadn't charged their customers VAT because they didn't know they should have been VAT registered.

Some of those customers had long since paid their invoices and moved on.

They weren't obliged to go back and pay the extra VAT, which meant the business owner had to pay that money out of their own pocket.

It's an expensive lesson, but one that's completely avoidable.

It's about understanding the difference between year-end accounts and keeping an eye on your business throughout the year.

Your bookkeeping isn't just something to hand over once a year.

Keeping on top of your bookkeeping regularly helps you understand how your business is performing, spot important milestones like the VAT registration threshold, and make informed decisions before small issues become expensive ones.

Be honest... are your receipts still living in a shoebox until January, or have you found a better system?

This one is for all the Sole Traders in my network. 👋 If you've been following me for a while you will probably have see...
20/07/2026

This one is for all the Sole Traders in my network. 👋

If you've been following me for a while you will probably have seen me go on about MTD for income tax, but are you still confused about whether or not you need to sign up?

If that's you then comment "Bring it on" and I'll send you a link to my free MTD readiness checker and MTD guide which will show you when you'll have to register if at all.

"I'll just do all four quarterly updates in January."I completely understand why people think this.If you've always done...
17/07/2026

"I'll just do all four quarterly updates in January."

I completely understand why people think this.

If you've always done your bookkeeping once a year, it probably feels like the obvious solution.

And this year, you actually won't receive late submission penalties for doing that.

HMRC has introduced a soft landing for the first year of Making Tax Digital for Income Tax, recognising that this is a big change for many sole traders.

But don't let that lull you into a false sense of security.

From next year, late submission penalties and fines will come into effect, so leaving everything until January isn't a routine you'll want to get into.

Instead, I'd use this first year as an opportunity to build a new habit while the pressure is off.

The interesting thing is... I actually think there are some genuine positives to MTD.

Keeping your bookkeeping up to date means:

✅ No more January panic trying to remember what happened a year ago.

✅ A much clearer picture of how your business is performing throughout the year.

✅ The opportunity to spot issues early and make decisions before they become bigger problems.

There's another benefit that often gets overlooked too.

If you're now mandated into MTD, your business income was already over £50,000 when you became eligible.

Hopefully, that's a sign your business is growing.

And if it keeps growing, you'll eventually need to start thinking about the £90,000 VAT registration threshold.

Keeping your bookkeeping up to date means you'll see your turnover building throughout the year, so you're far less likely to accidentally cross the VAT threshold without realising.

One of the biggest changes MTD brings isn't just more obligations.

It's routine.

And if I'm honest, that routine might just be one of the best things to come out of it.

How often do you currently update your bookkeeping? Every week, every month... or are you planning on being a January marathon runner?

I've finally got round to doing something that's been on my to-do list for ages...I've created a free guide to Making Ta...
16/07/2026

I've finally got round to doing something that's been on my to-do list for ages...

I've created a free guide to Making Tax Digital for Income Tax for Sole Traders.

I've lost count of the number of conversations I've had recently that start with, "I know I need to do something... I just don't know what."

So I thought I'd put everything in one place.

It covers the basics, including:

* whether MTD applies to you
* how to register
* the software options available (yes, that still includes software)

Nothing fancy. Just the information I think every Sole Trader should know before they start panicking after seeing another headline about MTD.

You can get it here if it's helpful:
https://momentum360.thinkific.com/courses/mtd

And if you know a sole trader who's still burying their head in the sand... feel free to send it their way.

"If MTD applies to me, surely HMRC will tell me?"This is one of the biggest assumptions I hear from sole traders.And I c...
16/07/2026

"If MTD applies to me, surely HMRC will tell me?"

This is one of the biggest assumptions I hear from sole traders.

And I completely understand why.

We’re used to receiving a letter when something important changes.

The good news is that HMRC has been contacting businesses that need to join Making Tax Digital for Income Tax now.

The less good news?

Whether that letter has actually reached you, been opened, or been understood is another story.

It might be sitting unopened in a pile of post.

It might have gone to an old address.

It might have been read and forgotten.

And unfortunately, not receiving (or noticing) a letter doesn't mean MTD doesn't apply.

It is still your responsibility to understand whether you need to register and comply.

Waiting for HMRC to tell you isn't really a strategy.

So who does MTD apply to?

For the first phase, it applies to sole traders and landlords with qualifying income over:

£50,000 in the 2024/25 tax year → required to join MTD now and submit the first quarterly update by the 7th August.

£30,000 in the 2025/26 tax year → required to join MTD from April 2027.

£20,000 from the 2026/27 tax year → required to join MTD from April 2028.

(These thresholds are based on qualifying income, not profit.)

If you think you might be affected, it’s worth taking ten minutes to check your 2024/2025 tax return, as well as your income in the 2025/2026 tax year.

Because knowing sooner gives you time to:

✅ Choose suitable software.

✅ Get your digital records set up.

✅ Create a bookkeeping routine.

✅ Understand what your numbers are telling you.

And actually, this is one of the positives of MTD.

Keeping your bookkeeping up to date isn't just about satisfying HMRC.

It means you can see how your business is performing throughout the year, spot issues earlier, and make better decisions.

No more waiting until January to discover what happened last year.

Have you checked whether MTD applies to you yet, or were you waiting for HMRC to let you know?

"I've got accounting software, so I'm MTD compliant." I hear this quite a lot.Unfortunately, having accounting software ...
15/07/2026

"I've got accounting software, so I'm MTD compliant."

I hear this quite a lot.

Unfortunately, having accounting software doesn't automatically mean you're compliant with Making Tax Digital.

For most Sole Traders you'll also need to make sure things like:

• you're signed up with HMRC (if you're mandated) - make sure to sign up each of your income sources if you have several, for example if you have a Sole Trader business and income from property

• you update your software (or spreadsheet) regularly so that it's not a big scramble at the end of each quarter

• your quarterly updates are actually being submitted on time. The first deadline is on the 7th August for everyone who earned more than £50k in the tax year 2024-2025

• you know the ins and outs of your software as well as how to record transactions and what's tax deductible and what isn't

Buying the software is only part of the picture.

If you are unsure you've done it right, get in touch and I'll help you make sense of it all.

"I've got accounting software, so I can do my own bookkeeping."I hear this one quite a lot.And to be fair… I completely ...
14/07/2026

"I've got accounting software, so I can do my own bookkeeping."

I hear this one quite a lot.

And to be fair… I completely understand why.

Modern accounting software is brilliant.

It can:
✅ Import your bank transactions.
✅ Match payments.
✅ Send invoices.
✅ Capture receipts.
✅ Create reports.

But here's the thing...

Software doesn't actually do your bookkeeping.

It doesn't know whether that Amazon purchase was:

* a business expense,
* something personal,
* or a bit of both.

It doesn't know whether that payment to a supplier has been categorised correctly.

It doesn't know whether you've missed something important.

It just follows the information you give it.

And that's where the skill of bookkeeping comes in.

Good bookkeeping isn't about being able to click the buttons in the software.

It's about understanding:

* what your numbers mean
* how transactions should be recorded
* what records you need to keep
* what questions you should be asking

Nobody starts a business because they want to become an expert in accounting systems.

But understanding the basics of your bookkeeping means you can use the software properly, spot when something doesn't look right, and feel confident that your numbers are telling the truth.

And if you do want to learn the basics of bookkeeping then give me a shout.

You drive 40 miles to visit a client.Nothing leaves your bank account.No receipt exists.Many Sole Traders stop there.But...
13/07/2026

You drive 40 miles to visit a client.

Nothing leaves your bank account.

No receipt exists.

Many Sole Traders stop there.

But that journey may still be claimable.

This is why bookkeeping isn't only about recording money spent.

Some legitimate business costs require records rather than receipts.

Keeping a mileage log can save tax and improve accuracy.

Do you currently track your business mileage?

Many conversations around MTD focus on software.But software isn't the hard part.The hard part is knowing how to use you...
10/07/2026

Many conversations around MTD focus on software.

But software isn't the hard part.

The hard part is knowing how to use your software.

MTD is exposing something that already existed.

Many Sole Traders have never had a bookkeeping process and don't know the basics of bookkeeping.

That's what causes stress.

Not the technology.

How prepared do you feel for MTD right now?

Address

Redbourn

Opening Hours

Monday 9am - 3pm
Tuesday 9am - 3pm
Wednesday 9am - 3pm
Thursday 9am - 3pm
Friday 9am - 3pm

Website

Alerts

Be the first to know and let us send you an email when Momentum360 posts news and promotions. Your email address will not be used for any other purpose, and you can unsubscribe at any time.

Contact The Business

Send a message to Momentum360:

Shortcuts

Share