Transform Paper Receipts into Digital MTD Records Instantly

As a UK landlord or sole trader preparing for Making Tax Digital, you need to maintain digital records of every business expense. But what about all those paper receipts, invoices, and bills?

RentalBux's intelligent OCR (Optical Character Recognition) technology instantly converts paper receipts and invoices into digital MTD-compliant records. Just snap a photo with your phone or upload a scan. No more manual data entry, lost receipts, or shoe boxes full of paperwork.

Capture expenses in seconds. Stay MTD compliant effortlessly.

What is OCR and Why Does It Matter for MTD?

OCR (Optical Character Recognition) is a technology that "reads" text from images and converts it into digital data. When you photograph a receipt, RentalBux's OCR engine:

  1. Scans the image and identifies text, numbers, and dates
  2. Extracts key information (merchant name, amount, date, VAT)
  3. Creates a digital expense record automatically
  4. Stores the receipt image as proof for HMRC
  5. Links everything together for audit trail compliance

Think of it as having a personal assistant who types up every receipt for you instantly.

Why OCR is Essential for MTD Compliance

Under Making Tax Digital, you must keep digital records of all business income and expenses. This includes:

  • Date of transaction
  • Description of goods/services
  • Amount paid (including VAT if applicable)
  • Supplier name
  • Supporting documentation (receipts, invoices)

The Old Way (Non-Compliant)

  • Keep paper receipts in a folder or envelope
  • Manually type into the spreadsheet quarterly
  • Risk of lost receipts and missing expenses
  • Time-consuming and error-prone
  • Paper records alone don't meet MTD digital standards

The RentalBux OCR Way (MTD Compliant)

  • Photograph receipt immediately when received
  • OCR extracts all required data automatically
  • Digital record created instantly with attached image
  • Searchable, organised, and HMRC-ready
  • Full MTD compliance with minimal effort