How does the 7-day free trial work?

You sign up, connect (or create) a Stripe account, and you're in. After 7 days you're charged the monthly or annual rate for the plan you chose. Cancel anytime before day 8 — no charge, no questions asked.

Do I need my own Stripe account?

You can use your own Stripe account (recommended — keep your existing payment history and payout schedule) or create one during signup. Bank transfer is also available with no Stripe fees.

What payment methods are supported?

Two options: (1) Card payments via Stripe — cards, ACH (US), SEPA (EU), Faster Payments (UK), Apple Pay, Google Pay. Stripe takes their standard processing fee (1.5% + 20p UK, 2.9% + 30¢ international). (2) Bank transfer — your IBAN / sort code / routing number appears on every invoice, client transfers manually, no fees.

How much does Invosi cost?

Starter is $7/mo USD. Pro is $12/mo with up to 5 companies and 1,000 invoices / month. Scale is $25/mo with unlimited everything. All paid plans include a 7-day free trial. Same price worldwide — your card network handles the FX conversion.

Is there a free plan?

After the 7-day free trial ends, your account falls back to a Free tier with 1 company and 5 invoices / month. You can keep using Invosi for occasional invoicing forever — upgrade only when you need more.

Making Tax Digital for Income Tax: what UK freelancers need to know in 2026

Making Tax Digital (MTD) for Income Tax is being phased in from April 2026. From 6 April 2026, sole traders and landlords with turnover over £50,000 must keep digital records and submit quarterly updates to HMRC. The threshold drops to £30,000 from April 2027. If your turnover is below £30,000, you do not have to use MTD.

The MTD timeline

6 April 2026: sole traders and landlords with turnover over £50,000 must use MTD for Income Tax
6 April 2027: threshold drops to £30,000
6 April 2028: threshold drops to £20,000
TBC: all self-employed individuals and landlords (no earlier than 2029)

What "MTD for Income Tax" actually means

Keep digital records of your income and expenses (spreadsheets do not count unless linked to MTD-compatible bridging software)
Submit a quarterly update to HMRC, summarising your income and expenses for the quarter
Submit a final declaration at the end of the tax year, replacing the current self-assessment tax return

How often do the quarters land?

Q1: 6 April to 5 July (update due 5 August)
Q2: 6 July to 5 October (update due 5 November)
Q3: 6 October to 5 January (update due 5 February)
Q4: 6 January to 5 April (update due 5 May)
Final declaration: due 31 January following the end of the tax year

Which software is MTD-compatible?

To submit MTD updates, you need software that has been through HMRC's MTD conformance test. The current list includes Xero, QuickBooks, FreeAgent, Sage, KashFlow, and HMRC's own MTD bridging software for spreadsheets. If your existing accounting software is not on the list, you will need to switch.

What does this mean for Invosi users?

Invosi is invoicing software, not accounting software, so it does not file your MTD returns directly. But Invosi integrates with the major accounting software (Xero, QuickBooks, FreeAgent) so your invoice data flows through automatically to your MTD submissions.

Frequently asked

When does MTD for Income Tax start?

From 6 April 2026, sole traders and landlords with turnover over £50,000 must use MTD for Income Tax. The threshold drops to £30,000 from April 2027.

What does MTD for Income Tax require?

Digital records of income and expenses, quarterly updates to HMRC summarising the quarter, and a final declaration at year-end replacing the self-assessment tax return.

Does MTD apply to Ltd company directors?

No. MTD for Income Tax is for self-employed individuals and landlords. Ltd companies file Corporation Tax returns, which are not changing.

Written by Invosi Editorial · Tax & Compliance.