Making Tax Digital for Income Tax – The Countdown Is On

Following the original announcement in the Spring 2015 Budget, we are now finally 6 weeks away from the introduction of Making Tax Digital for Income Tax (MTD) for sole trader and landlords with combined turnover more than £50,000.  Quarterly reporting comes with it!

Are you ready?

• Have you chosen your MTD compatible software?

• Have you considered the number of licences needed for your individual purposes?

• Have you signed up for MTD with HMRC?

Don’t understand what you need to do?

Software

If the choice of software is overwhelming, please ask us for advice. As a Sage and Xero certified practice, we can provide unbiased guidance as to what package will suit your individual needs the best, and offer an initial training session to familiarise you with the software.

Licences

If you are struggling with having multiple forms of individual income, please ask for our help. Separately rental and sole trader income is not impossible and we can guide you down the best path for your needs.

HMRC

If you have fallen into the bracket that requires registration for MTD, you will need to be signed up with HMRC by 6 April 2026.

Not sure how to do this? As your authorised agent we can do this for you!

Getting prepared before April 2026 if a vital part of making this process run smoothly for you, whether you are going to tackle the submissions yourself, or hands over the reins to us!

Please get in touch as soon as possible to get ahead in your planning and allow us to help make the transition as smooth as possible.