TL; DR: Export your transactions from FreeAgent (Accounting → Reports → Show Transactions) as a spreadsheet, then upload to AbraTax and submit to HMRC.

FreeAgent is a solid piece of software. It's just more than most sole traders and landlords actually need - especially now that MTD has arrived and the question of what you're legally required to do is clearer than ever.

The answer: keep your records digitally and submit through HMRC-recognised software. A spreadsheet handles the first part; AbraTax handles the second. You don't need a full accounting platform in between. Here's how to get your data out of FreeAgent.

What MTD actually requires:

Under Making Tax Digital for Income Tax, HMRC requires that you

  • keep your income and expense records in a digital format
  • submit quarterly updates and a final declaration through HMRC-recognised software.

That is it. AbraTax is HMRC-recognised bridging software, meaning you keep your records in a spreadsheet and submit directly from there. No full blown accounting software required.

How to export your records from FreeAgent?

The FreeAgent export option lives in the report section. Here's how to find it:

  1. Go to Accounting in the top navigation and select reports from the drop down menu.
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  1. Scroll down to the details section and click Show transactions.This gives you a breakdown of all income and expense across your FreeAgent categories.
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  1. Set the date range to cover the tax year you want.
  2. Export the report, save it as a spreadsheet.
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  1. Repeat for each tax year you want to retain.

Optional: Saving your Receipts.

If you've been scanning receipts in FreeAgent and want to keep copies, you can export those too, though this isn't required for MTD compliance. If you do want to keep them, we'd suggest organising them into folders by tax year (example 2024-25, 2025-26) and saving them as a zip file alongside your spreadsheet records. This keeps everything tidy and easy to find if HMRC ever asks.

You're done

Once you've exported your records. You've got everything you need. Open AbraTax, upload a spreadsheet, and you're ready to submit your quarterly updates to HMRC. No complicated migration, no data transfer, just a spreadsheet and software that actually does what you need.

Disclaimer: We aim to offer educational articles on our blog, focusing on tax-related topics. However, it's important to note that over time, the relevancy of this content might diminish, and we cannot guarantee accuracy. While these articles serve as a tool for enhancing tax knowledge, they are not a replacement for expert advice in accounting, taxation, or legal matters, given the unique nature of each individual's situation. Should you require personalized assistance, we encourage contacting HM Revenue and Customs (HMRC).