Spreadsheet & Planning Tools

Planners and templates to keep your finances on track.

Not every sole trader wants or needs dedicated accounting software. If your finances are relatively straightforward, a well-designed spreadsheet can do the job at a fraction of the cost - and give you more control over how your data looks and works. This category covers spreadsheet tools and downloadable templates designed specifically for UK sole traders, including tools built around HMRC requirements. It also includes the Rootstock Planning products developed by the team behind Sole Trader Toolkit.

What to look for

• Off the shelf vs build your own - Google Sheets and Microsoft Excel give you the flexibility to build whatever you need, but you have to build it. Purpose-built templates and tools like the Rootstock Planning Sole Trader Tax Tracker give you a ready-made structure for UK income, expenses and tax tracking without starting from scratch.

• MTD compatibility - from April 2026, spreadsheets alone won’t meet HMRC’s MTD requirements. If you’re above the income threshold, you’ll need bridging software alongside your spreadsheet. 123 Sheets and VitalTax (also listed in the MTD Software category) both submit from a spreadsheet to HMRC.

• Excel vs Google Sheets - Excel (via Microsoft 365) is more powerful and widely used in accountancy; Google Sheets is free and works on any device without software to install. For most sole trader purposes, either will work.

• UK tax relevance - generic spreadsheet templates are rarely built around HMRC categories, the self assessment structure or UK mileage rates. Templates designed specifically for UK sole traders save you the work of adapting a generic version.

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Microsoft Excel

Industry standard spreadsheet software, widely used by sole traders for bookkeeping and financial planning. Available via Microsoft 365.

Best for: Sole traders who prefer to manage their finances manually in their own spreadsheets

Pricing: Paid - from £8.49 per month

Free trial: Yes

MTD compatible: No

Mobile app: Yes

UK specific: No

Visit Microsoft Excel

Google Sheets

Free cloud-based spreadsheet tool from Google. Works on any device and is a popular free alternative to Excel.

Best for: Sole traders wanting a free, accessible spreadsheet they can use anywhere

Pricing: Free

Free trial: N/A

MTD compatible: No

Mobile app: Yes

UK specific: No

Visit Google Sheets

123 Sheets

Low-cost MTD bridging software for spreadsheet users.

Best for: Budget-conscious sole traders who prefer spreadsheets over accounting software

Pricing: Paid - from £19.75 per year

Free trial: Yes

MTD compatible: Yes

Mobile app: No

UK specific: Yes

Visit 123 Sheets

VitalTax

Free MTD bridging software for sole traders using spreadsheets. Submits quarterly updates directly to HMRC.

Best for: Sole traders who want to keep using spreadsheets but meet MTD requirements

Pricing: First submission free - from £30 +VAT after that

Free trial: N/A

MTD compatible: Yes

Mobile app: No

UK specific: Yes

Visit VitalTax

Sole Trader Tax Tracker

Developed by the team behind Sole Trader Tolkit

Excel spreadsheet for UK sole traders to track income, expenses and tax liability throughout the year. Built around HMRC categories and the self assessment return.

Best for: Sole traders who want a simple, affordable alternative to accounting software

Pricing: Paid - £21.99 one off fee

Free trial: No

MTD compatible: No

Mobile app: No

UK specific: Yes

Visit Sole Trader Tax Tracker

If you’re comfortable with spreadsheets and want to keep things simple and low-cost, Google Sheets (free) or Microsoft Excel (from around £9/month via Microsoft 365) are your foundations. If you need to meet MTD requirements while staying in a spreadsheet, add 123 Sheets or VitalTax as bridging software alongside it. For a ready-made option, the Sole Trader Tax Tracker from Rootstock Planning - developed by the team behind this directory - is built around exactly this use case. As this is our own product, we'd encourage you to compare it with the other options listed above before deciding.

Last reviewed: June 2026