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IQ Books
Visit IQ Books websiteView HMRC listing
Our notes
IQ Books by ReconcileIQ is a double-entry bookkeeping ledger that files MTD VAT returns and MTD Income Tax quarterly updates for self-employment income. It does not yet file the year-end final declaration or property income updates.
Pros
- Quarterly updates free on every plan, including the free plan
- Full ledger with bank feeds, invoicing and receipts on the free plan
- No time limit on the free plan
Cons
- Final declaration not supported yet; needs other software or an accountant
- No landlord or property income filing yet
- AI automation uses credits (1,000 free one-off credits)
Price
Prices can change without notice, so confirm with the provider before you buy. Spotted an error? Email us.
- Cheapest MTD-capable plan
- Free
- Per month
- Free
- Per year
- Free
- VAT
- n/a
- Notes
- Free plan covers quarterly updates only (no final declaration on any plan yet). Paid plans: Starter £5/mo, Accountant £15/mo; annual billing is 15% off. Prices exclude VAT.
- Landlord pricing
- no. 'Quarterly updates for property income are not live yet'.
- Agent/accountant pricing
- yes. Accountant plan £15/mo ex VAT (5 organisations); practice plans from £78/mo ex VAT (Practice Essential, up to 50 client accounts free).
Really free?
- Quarterly updates free
- yes (self-employment only)
- Tax return (final declaration) free
- no (not supported: 'the year-end tax return does not yet' file from IQ Books)
- Limits
- One organisation; AI automation draws on 1,000 one-off free credits; manual coding unmetered.
- Bank account condition
- None
- Time limit
- None stated
Landlords and spreadsheets
- Excel bridging
- n/a
- Google Sheets bridging
- n/a
- CSV import
- n/a
- Bridging notes
- 'IQ Books replaces the spreadsheet rather than bridging it'. CSV bank statements can be imported into the ledger.
Checked 17 Oct 2026. Sources:reconcileiq.com, reconcileiq.com, reconcileiq.com
HMRC listing
What the software provider has told HMRC. “In development” means the provider has committed to building it in time for the 2026 to 2027 tax return.
Features
| Free version | Ready now |
|---|---|
| Agent software | Ready now |
| Individual software | Ready now |
| Software that creates digital records | Ready now |
| Bridging software that connects to records | Not included |
| Standard update period (6 April to 5 April) | Ready now |
| Calendar update period (1 April to 31 March) | Ready now |
| Making Tax Digital for VAT | Ready now |
| HMRC Assist (Submission Feedback) | Not included |
Business income
| Sole trader | Ready now |
|---|---|
| UK property | Not included |
| Foreign property | Not included |
Other income sources and items
| Employment (PAYE) | Not included |
|---|---|
| UK dividends | Not included |
| State Pension income | Not included |
| Private pension incomes | Not included |
| Partner income from a partnership | Not included |
| Foreign dividends | Not included |
| Foreign interest | Not included |
| Private pension contributions | Not included |
| Construction Industry Scheme | Not included |
| Charitable giving | Not included |
| Capital Gains | Not included |
| Student Loan | Not included |
| Marriage Allowance | Not included |
| Voluntary Class 2 National Insurance | Not included |
| High Income Child Benefit Charge | Not included |
| UK interest | Not included |
Accessibility
| Blindness or impaired vision | Ready now |
|---|---|
| Deafness or impaired hearing | Ready now |
| Motor or physical difficulties | Ready now |
| Cognitive impairments | Ready now |
Platform
| Software type | Web browser |
|---|---|
| Compatible with | Microsoft Windows Mac OS Linux |
| Language | English |