How do I report other income (e.g., from savings, pensions, capital gains, etc) for my tax return?

Only income from self employment and properties needs to be submitted during the tax year. At the end of the tax year, all other income can be submitted to HMRC as part of your MTD Tax Return.

The MTD Tax Return account works as a central hub alongside your existing Sole Trader or Property accounts. It automatically pulls in your business profit figures and provides dedicated sections for you to add your other income sources.

How it works:

Add your MTD Tax Return Account: The first time you navigate to your MTD Tax Return, you will be prompted to create your Clear Books MTD Tax Return account. This account is designed specifically for viewing and editing your MTD Tax Return.

Enter Other Income: Once set up, you can manually enter the totals for any other income you received during the tax year. Common examples include:

• Interest from savings and investments
• Capital Gains
• Income from pensions, annuities, and certain state benefits
• Foreign income or gains
• Dividends

Review and finalise: The MTD Tax Return account submits all your other income to HMRC and will show the updated HMRC tax calculation after each change, ready for you to review and finalise.