MTD / Accounting / Tax Disclaimer

Extractly MTD / Accounting / Tax Disclaimer

Version: 1.0 Effective date: 16 June 2026

This MTD / Accounting / Tax Disclaimer explains the limits of Extractly’s role in relation to Making Tax Digital, HMRC, accounting, bookkeeping, tax records, exports and professional advice.

Extractly is operated by Utracki Systems Ltd, a private limited company registered in England and Wales under company number 17038660, with its registered office at 124-128 City Road, London EC1V 2NX, United Kingdom.

You can contact us at [email protected]. For questions about this Disclaimer, please include [legal] in the subject line.

1. Extractly is software, not a professional adviser

Extractly is a software tool designed to help users upload, store, organise, review, approve, archive and export receipts, invoices, income records, expense records and related business documents.

Extractly does not provide accounting, bookkeeping, tax, legal, financial, VAT, payroll, audit, compliance or professional advice.

Utracki Systems Ltd is not acting as your accountant, bookkeeper, tax adviser, legal adviser, financial adviser, VAT adviser or HMRC agent.

You should seek advice from a qualified accountant, bookkeeper, tax adviser, solicitor or other professional adviser where needed.

2. Your responsibility

You are responsible for:

• keeping accurate and complete business records;
• checking whether Making Tax Digital applies to you;
• checking whether VAT, Self Assessment, company accounts, Corporation Tax, landlord tax, payroll or any other tax obligation applies to you;
• choosing suitable software and advisers;
• checking all extracted data before approving it;
• correcting any errors;
• deciding the correct tax and accounting treatment of transactions;
• deciding the correct category for each item;
• keeping source documents where required;
• submitting accurate information to HMRC or any other authority;
• meeting filing and payment deadlines;
• retaining records for the legally required period;
• responding to HMRC, accountant, regulator, court or other third-party requests.

You should not rely on Extractly as a substitute for professional judgement.

3. AI/OCR extraction is not guaranteed

Extractly may use AI, OCR, document analysis, machine learning, rules-based systems, third-party providers or internal tools to extract information from receipts, invoices and other documents.

Automated extraction may be inaccurate, incomplete or unsuitable for your specific accounting or tax position.

Errors may include incorrect:

• dates;
• supplier names;
• totals;
• VAT amounts;
• currencies;
• categories;
• invoice numbers;
• receipt references;
• business/private split;
• income or expense classification;
• duplicate detection;
• tax treatment.

You must review and approve data before relying on it.

Approval of a record means you accept responsibility for the final approved information.

4. Category suggestions are not advice

Extractly may suggest categories from available category sets.

Category suggestions are provided to reduce manual data entry. They are not accounting, bookkeeping, tax or legal advice.

You are responsible for deciding whether a suggested category is correct for your business, your tax position, HMRC rules, your accounting method and your adviser’s guidance.

If you are unsure how to categorise an item, you should consult an accountant, bookkeeper or tax adviser.

5. Spreadsheet exports

Extractly may generate spreadsheet exports, such as XLSX or CSV files, based on records that have been created, extracted, reviewed or approved in your account.

Spreadsheet exports are convenience tools. They do not guarantee compliance with HMRC, Making Tax Digital, VAT, Self Assessment, company accounting, accounting standards, lender requirements, insurance requirements, grant requirements, court requirements or adviser requirements.

You must check exports before using them.

You are responsible for maintaining your own appropriate records and backups.

6. Archive files and stamped documents

Extractly may generate archive files, stamped receipts, PDF bundles, ZIP files, reference numbers or other document outputs where included in your plan or available feature set.

These outputs are intended to help organise and reference records. They do not prove that a transaction is genuine, allowable, deductible, correctly categorised, tax compliant, VAT compliant or accepted by HMRC.

You should check archive files and keep your own records where required.

7. Making Tax Digital status

Extractly may include features intended to support digital record organisation and future Making Tax Digital workflows.

Unless and until we expressly state otherwise in writing, Extractly is not HMRC-recognised Making Tax Digital filing software and does not itself submit quarterly updates, final declarations, Self Assessment returns, VAT returns or other tax submissions to HMRC.

You must not assume that using Extractly alone satisfies your Making Tax Digital obligations.

If future HMRC or Making Tax Digital features are added, they may be subject to additional terms, technical limitations, provider availability, HMRC authorisation, user setup, supported tax types, compatible software requirements and user responsibility checks.

8. HMRC compatibility and future integrations

Any future HMRC, MTD, accounting, bookkeeping, bank feed, payroll, VAT, Self Assessment, Companies House or third-party integration may depend on:

• HMRC or third-party API availability;
• user authorisation;
• provider approval;
• compatible software requirements;
• technical testing;
• account verification;
• supported business types;
• supported tax years;
• supported categories;
• supported submission types;
• government rule changes;
• third-party provider terms;
• plan availability;
• additional charges.

We may change, delay, suspend or remove planned integrations if they are not technically, legally, commercially or operationally suitable.

9. No guarantee of compliance

Extractly does not guarantee that:

• your records are complete;
• your records are accurate;
• your receipts are allowable expenses;
• your income is correctly classified;
• your VAT treatment is correct;
• your categories are correct;
• your exports match HMRC requirements;
• your records meet MTD requirements;
• your accounting method is correct;
• your tax return, VAT return, quarterly update or final declaration will be accepted;
• HMRC, an accountant, a regulator, court, bank, insurer or other third party will accept Extractly records or exports.

You remain responsible for compliance.

10. Record retention

UK businesses may need to keep accounting and tax records for legally required periods. The required period depends on your business type, tax position, company status, VAT status, HMRC requirements and other legal obligations.

Extractly may help store records while your account is active and your plan allows storage, but we do not take responsibility for your statutory record retention obligations.

You should export and keep your own copies of records you need.

Cancellation, downgrade, account restriction, account closure or deletion may affect access to records.

11. No responsibility for missed deadlines

Extractly is not responsible for missed HMRC, tax, accounting, VAT, Companies House, Self Assessment, payment, filing, reporting or professional adviser deadlines.

You are responsible for tracking deadlines and submitting required information on time.

Any reminders, dashboards, exports or status indicators provided by Extractly are convenience features only and may be incomplete, delayed or unavailable.

12. Third-party reliance

You should not provide Extractly exports, archive files or extracted records to HMRC, accountants, banks, insurers, lenders, courts, regulators or other third parties without checking that the information is accurate, complete and suitable for the purpose.

If a third party relies on Extractly data, you remain responsible for the information you provide to that third party.

13. Professional advice

You should consult a qualified adviser if you are unsure about:

• whether Making Tax Digital applies to you;
• which software you need;
• whether a receipt is allowable;
• whether VAT applies;
• how to categorise a transaction;
• whether an expense is wholly and exclusively for business;
• how to treat mixed-use costs;
• how long records must be kept;
• how to correct errors;
• how to submit tax or accounting information;
• how to respond to HMRC.

14. Changes in law

Tax, accounting, VAT, Making Tax Digital and record-keeping rules may change.

We may update Extractly or this Disclaimer from time to time, but we do not guarantee that the service will always reflect the latest law, guidance, HMRC practice, accounting standards or professional interpretation.

You are responsible for checking current rules and getting professional advice where needed.

15. Contact

For questions about this Disclaimer, contact:

Utracki Systems Ltd 124-128 City Road London EC1V 2NX United Kingdom

Email: [email protected] Suggested subject: [legal] MTD / Accounting / Tax Disclaimer