Forbes MTD – What You Need to Know
An in-depth look at Forbes MTD — features, strengths, limitations, and who it's best for.
At a Glance
Key facts about Forbes MTD at a glance.
| Feature | Forbes MTD |
|---|---|
| Software Type | Bridging Software (Standalone Windows App) |
| Target Users | Landlords, Sole Traders, Accountants |
| Income Sources Supported | Sole Trader + UK Property + Foreign Property |
| Free MTD Software Plan | No free plan |
| MTD Quarterly Updates to HMRC | Yes |
| Final Declaration | Yes |
| Bank Reconciliation | No |
| Automated Bank Feeds | No |
| Invoice Creation | No |
| Receipt Capture (OCR) | No |
| Expense Auto-Categorisation | No |
| Property Portfolio Management | No |
| Tenant Management | No |
| Joint Ownership & Profit Sharing | No |
| Payroll | Yes |
| HMO Unit-Level Tracking | No |
| HMRC SA105 Box Pre-Mapping | No |
| Spreadsheet Import/Export | Yes |
| Platform | Windows desktop application only |
| GDPR Compliant | Yes |
What Is Forbes MTD?
What Is Forbes MTD?
Forbes MTD is a standalone Windows desktop application that provides bridging software and full bookkeeping solutions for individuals and businesses using Excel, Sage, VT Transaction+, or other accounting packages. It is one of the best-known bridging tools for Making Tax Digital for Income Tax alongside VitalTax and 123 Sheets, and is HMRC-recognised for quarterly updates and final declarations across sole trader, UK property, and foreign property income.
Forbes MTD's approach differs fundamentally from full accounting platforms: rather than creating or maintaining your financial records, it acts as a digital bridge between records you have already created in your existing software and HMRC's MTD systems. You export your data as a CSV file from your spreadsheet or accounting software, import it into Forbes MTD, review the figures, and submit. This workflow requires virtually no learning curve for existing Excel or Sage users and imposes no obligation to change established record-keeping habits.
Strengths
- HMRC-recognised for all three MTD income types
- Works with existing Excel, Sage, VT Transaction+ workflows
- Low annual cost — £40 + VAT (single company
- Agent licence covers unlimited companies (£195 + VAT)
- No subscription — flat annual fee, no per-property charge
- Compatible with multiple legacy accounting packages
- Works offline; internet only needed at point of submission
Limitations
- Bridging only — does not create or maintain digital records
- Windows desktop only — no web, iOS, or Android
- No property management, tenant management, or rent tracking
- No bank feeds or automated transaction matching
- No bookkeeping, chart of accounts, or financial reporting
- No invoice creation or expense categorisation
- Manual CSV export/import required each quarter
- No free plan; phone support not available
Making Tax Digital Compliance
How Forbes MTD Handles MTD Compliance
Forbes MTD supports quarterly updates and final declarations for sole trader, UK property, and foreign property income across both standard and calendar tax periods. The critical distinction is that Forbes MTD does not create or maintain HMRC-compliant digital records — that responsibility remains entirely with the user in their spreadsheet or external software. Forbes MTD provides the digital link between those records and HMRC's API. Agent filing is supported but requires a separate, higher-cost agent licence.
| Feature | Forbes MTD |
|---|---|
| HMRC Recognised (MTD ITSA) | Yes |
| MTD Quarterly Updates | Yes |
| Final Declaration | Yes |
| Digital Record Keeping | No |
| Digital Links Compliant | Yes |
| Sole Trader Income | Yes |
| UK Property Income | Yes |
| Foreign Property Income | Yes |
| Multiple Income Streams | Yes |
| Agent Filing on Behalf | Yes |
Property Management
Forbes MTD: No Property Management Features
Forbes MTD has no property management functionality whatsoever. It does not track tenancies, manage rent, record compliance deadlines, allocate expenses to individual properties, or provide any landlord-specific workflows. All property administration must be managed separately.
| Feature | Forbes MTD |
|---|---|
| Property Portfolio Management | No |
| Tenant Management | No |
| Rent Tracking | No |
| Property Expense Allocation | No |
| Multiple Property Support | No |
| HMO Property Support | No |
| Joint Ownership/Profit Sharing | No |
| Maintenance Tracking | No |
| Tenant Screening | No |
| Compliance Document Alerts | No |
| Arrears Tracking | No |
Bookkeeping, Accounting & Digital Record Keeping
Forbes MTD: No Bookkeeping — Bridging Submission Only
Forbes MTD performs no bookkeeping functions. It does not record transactions, categorise expenses, reconcile bank statements, or produce financial reports. The user's existing spreadsheet or accounting software is their digital record; Forbes MTD's sole function is to import that data via CSV and transmit it to HMRC.
| Feature | Forbes MTD |
|---|---|
| Cash Basis Accounting | No |
| Chart of Accounts (Pre-built, Landlord-Tailored) | No |
| Journal Entries | No |
| Bank Reconciliation | No |
| Automated Bank Feeds | No |
| Open Banking Integration | No |
| Double-Entry Bookkeeping | No |
| HMRC Box Pre-Mapping | Partial |
| Xero Integration | No |
| Spreadsheet Import/Export | Yes |
| Digital Record Storage | Partial |
Invoicing, Expense Tracking
Forbes MTD: No Expense Tracking or Invoicing Features
Forbes MTD takes no active role in expense management. As a bridging submission tool, it does not record, categorise, or process any expense data — that work is entirely the responsibility of the user, carried out in their spreadsheet or existing accounting software before Forbes MTD is ever opened. There are no automation features, no receipt scanning, and no invoice creation capabilities. For landlords with well-organised records who are already disciplined about categorising expenses correctly in Excel or Sage, this is not a problem — but it does mean Forbes MTD offers no assistance in maximising allowable deductions or reducing bookkeeping time.
| Feature | Forbes MTD |
|---|---|
| Invoice Creation & Sending | No |
| Invoice Customisation/Branding | No |
| Online Payment Collection | No |
| Payment Tracking/Reminders | No |
| Expense Tracking | No |
| Receipt Capture (OCR/Photo) | No |
| Expense Categorisation | No |
| Automated Transaction Matching | No |
| Mileage Tracking | No |
| AI Auto-Categorisation | No |
Reporting & Tax Forecasting
Forbes MTD: No Reporting or Financial Insights
Forbes MTD generates no financial reports of any kind. Once data has been imported via CSV and transmitted to HMRC, the software's function is complete. There is no dashboard, no profit and loss summary, no tax estimate, and no portfolio overview. Any financial analysis, reporting, or tax forecasting must be performed entirely within the user's external spreadsheet or accounting software, before or after the Forbes MTD submission workflow.
| Feature | Forbes MTD |
|---|---|
| Profit & Loss Report | No |
| Balance Sheet | No |
| Trial Balance | No |
| Dashboard/Overview | No |
| Real-Time Financial Data | No |
| Cash Flow Reporting | No |
| Tax Estimate/Forecast | No |
| AI-Powered Features | No |
Collaboration & Mobile Apps
Forbes MTD: Single-User, Desktop-Only Access
Forbes MTD's collaboration capabilities are limited by its design as a single-user Windows desktop application. While an agent version is available, it requires the purchase of a separate, higher-cost licence and is oriented towards accountants running submissions on behalf of multiple clients from their own desktop — not towards shared, real-time access between a landlord and their adviser. There is no mobile app, no web access, and no multi-user functionality within a single licence.
| Feature | Forbes MTD |
|---|---|
| Accountant/Advisor Portal | Yes |
| Multi-User Access | No |
| Agent Filing on Behalf | Yes |
| Bank Integration | No |
| Platform | Windows desktop application only |
| Web Browser Access | No |
| FCA Regulated | No |
| GDPR Compliant | Yes |
Ease of Use, Support & Security
Forbes MTD: Functional Desktop Tool with Email-Only Support
Forbes MTD is a functional, no-frills desktop application designed for users who are already comfortable with Excel, Sage, or similar accounting software. Its interface reflects its origins as a tool built by accountants for accountants — straightforward and task-focused, but not designed to guide a first-time user through bookkeeping or MTD compliance from scratch. Customer support is available via email only, with no phone or live chat option. Data is stored locally on the user's own hardware rather than in the cloud, which may appeal to users with data sovereignty concerns but removes the accessibility benefits of cloud-based platforms.
| Feature | Forbes MTD |
|---|---|
| Phone Support | No |
| Chat Support | No |
| Email Support | Yes |
| Help Centre/Knowledge Base | Partial |
| FCA Regulated | No |
| Enterprise-Grade Security | No |
Unique Features Only Forbes MTD Offers
Compatibility with legacy accounting software
Forbes MTD connects to Excel, Sage, and VT Transaction+ via CSV. Ideal for accountants and businesses not yet migrated to cloud platforms.
Flat-fee annual licence — no monthly subscription
£40 + VAT for a single company, with no per-property charges and no feature tiers. Predictable annual cost for simple, spreadsheet-based records.
Agent licence covering unlimited companies
£195 + VAT per year for accountancy practices managing large numbers of clients with existing desktop software setups.
Windows application — works offline
Data preparation can occur without internet; connection required only at the point of HMRC submission. Suits low-connectivity environments.
Who Should Choose Forbes MTD?
Forbes MTD is the better choice for:
Existing Excel or Sage users with well-organised records
If your records are accurate and structured and you simply need the cheapest compliant submission mechanism, Forbes MTD is low-disruption and cost-effective.
Accountants managing large volumes of desktop-software clients
The agent licence (£195 + VAT) covers unlimited client companies — strong value for practices with many clients using legacy desktop software.
Landlords seeking a minimal-disruption interim solution
Forbes MTD meets the April 2026 deadline without requiring migration to a new platform, making it viable while a full software evaluation is underway.
Users in low-connectivity environments
As a Windows desktop application, Forbes MTD can prepare submissions offline, requiring internet only for the HMRC transmission.