MYT – What You Need to Know

How MYT Handles MTD Compliance

MYT covers sole trader income for MTD purposes, with quarterly updates and final declarations supported. Its AI-powered bookkeeping automates much of the record-keeping process — transaction categorisation, receipt extraction, and bank reconciliation — ensuring digital records are maintained in a format HMRC requires. However, MYT does not appear on HMRC's recognised list for foreign property income under MTD ITSA. Landlords who earn from overseas property would need a separate platform to cover that income stream. MYT also does not support agent filing — submissions must be made directly by the user.

MYT: No Property Management Capability

MYT was not designed for landlords and does not include property management features. There is no property portfolio tracking, no tenant management, no rent tracking per property, no joint ownership or profit-splitting, no compliance document alerts, and no HMO support. MYT's focus is entirely on bookkeeping and accounting for general small businesses. Landlords who use MYT would need a separate property management tool alongside it — adding cost and complexity.

MYT: AI-First Bookkeeping for General Small Businesses

MYT takes an AI-powered approach to bookkeeping: bank feeds automatically import transactions, and AI categorises expenses with minimal manual input. The platform generates profit & loss statements, balance sheets, and trial balances. It also includes multi-currency support — a feature RentalBux currently lacks. However, MYT uses generic business accounting categories rather than landlord-specific SA105/SA106 mappings. This means landlords using MYT would need to manually ensure their expense categories align with HMRC's property income categories — adding complexity and risk of miscategorisation.

MYT: Award-Winning AI Expense Capture for Small Businesses

MYT's headline feature is its award-winning AI expense capture: photograph a receipt and MYT automatically reads, extracts, and categorises the expense. Bank feeds pull transactions directly from connected accounts. Invoices can be created and sent with BOPP instant payment links. MYT also includes GPS mileage auto-tracking — a valuable feature for tradespeople who drive between jobs — and CIS contractor statement management. However, MYT's expense categories are generic and not optimised for property allowable expenses.

MYT: Standard Business Financial Reporting

MYT generates profit & loss statements, balance sheets, and trial balances. Financial reports can be accessed and exported from within the platform. MYT does not offer property-level reporting, per-property P&L, portfolio performance metrics, or any landlord-specific financial analysis. There is no tax forecasting or running tax estimate feature.

MYT's Collaborative Features

MYT supports multi-user access with role-based permissions, allowing business owners to invite their accountant or bookkeeper to collaborate directly within the platform. Accountants can view records, review transactions, and assist with bookkeeping without requiring data to be exported and shared manually. MYT is available across all devices — web, iOS, and Android — ensuring users can manage invoices, capture receipts, and reconcile bank transactions from wherever they are.

MYT emphasises simplicity and mobile-first design. Users report that the AI expense capture in particular saves significant time, and that the interface is clean and intuitive. MYT holds a 4.9-star rating on Google Reviews and a 5.0-star rating on the App Store (29 ratings). Customer support is available by phone (+44 330 056 8705), email, and via a book-a-demo service. MYT is GDPR-compliant and uses cloud infrastructure with encryption to protect user data.