WHITO GLOSSARY · MEASURED DEFINITIONS
HMRC’s requirement to keep digital records and file through software. Compliance costs a simple sole trader £0 to £144 a year, yet Xero’s Grow plan costs £444 at full price, 4.8 times HMRC’s estimate.
The number: UK Software Waste Index.
What it means in practice
MTD panic sells software. The legal requirement and the software industry’s version of the requirement are not the same size.
Price the compliance floor first: what the rules actually demand for a business like yours. Then let any vendor explain what their extra hundreds of pounds add.
Whito stage: Start. Get this right before spending on channels.
The numbers to hold onto
- Compliance costs a simple sole trader £0 to £144 a year. UK Software Waste Index.
- Xero’s Grow plan costs £444 a year at full price, 4.8 times HMRC’s £110 estimate. UK Software Waste Index.
Where to go next
Related: Price transparency, Rate card, Photography day rate