Keep evidence, not just a bank balance
Keep sales records, supplier invoices, expense evidence, refunds, platform settlement reports and payment fees together. A net marketplace deposit should be reconcilable to the transactions behind it. Give files a consistent date and description. Separate business and personal spending, and record owner money introduced or withdrawn so it does not become unexplained revenue or an expense.
Close a month while you remember it
Download platform and payment reports, reconcile the bank and investigate unexplained differences. Review unpaid invoices and supplier bills. Record stock information your accountant needs. Store documents securely with a backup, and retain them for the period that applies to your business and tax. Limited-company accounting records generally need to be kept for six years from the end of the financial year they relate to, with longer periods in some cases.
Watch VAT and Making Tax Digital
The UK VAT registration threshold is currently £90,000 of taxable turnover, subject to the rolling 12-month and expected next-30-day tests and other rules. Turnover is not profit. Ask an accountant about taxable supplies, imports and overseas sales rather than assuming every transaction is treated alike.
Making Tax Digital for Income Tax began on 6 April 2026 for qualifying sole traders and landlords whose 2024–25 qualifying income exceeded £50,000. The next phase starts on 6 April 2027 for qualifying income over £30,000 in 2025–26. Check HMRC’s eligibility and exemption rules. This is not a blanket rule for every limited company.
Keep ownership of your deadlines
Put company and tax filing dates, VAT returns and payroll tasks in a shared calendar with a named person responsible. Allow time to review the figures before submission. A tax pot is a cash-planning aid, not a calculation of what you owe. Review the reserve with your accountant as profit, VAT and staffing change. Keep your own access to reports and confirmation receipts even when an adviser submits on your behalf.
YOUR NEXT STEP
Make the next move a clearer one.
- Reconcile each marketplace payout to its underlying activity.
- Keep invoices and reports with secure backups.
- Track taxable turnover separately from profit.
- Check the HMRC MTD rules for your own circumstances.
- Agree who prepares, approves and submits every filing.
Where we checked the details
Primary sources checked 11 October 2026. Rules, prices and eligibility can change. Confirm current terms with the official service.
General UK guidance and editorial checklists. Apply the official rules to your circumstances and seek qualified help where needed. This is researched guidance, not a claim that we have tested every provider or situation.
Spotted an update? Tell us →