Making Tax Digital 

Making Tax Digital for Income Tax Self Assessment (MTD for ITSA)

The UK government has extended MTD for ITSA to sole traders and landlords with business or property income over £50,000. Key points include:

• Digital Records: Maintain accurate digital records of income and expenses.
• Quarterly Updates: Submit updates to HMRC every quarter using compatible software.
• Implementation Phases: From April 2026 for incomes over £50,000, and from April 2027 for incomes over £30,000.

As experienced accountants, we can help you seamlessly transition to MTD for ITSA by:

• Setting Up Digital Systems: Assisting with the setup and integration of MTD-compatible software.
• Training and Support: Providing training on how to maintain digital records and submit quarterly updates.
• Ongoing Compliance: Ensuring your records and submissions meet HMRC requirements, reducing the risk of errors and penalties.

MTD for ITSA aims to reduce errors, save time, and improve productivity by leveraging digital tools. Let us help you navigate these changes with ease.

HMRC’s guide to MTD can be found here: https://www.gov.uk/guidance/use-making-tax-digital-for-income-tax

Interested in how we can help? Get in touch.