Making Tax Digital for Income Tax
As many of you are now aware Making Tax Digital (or MTD) is coming in from April 2026, for Sole Traders and Landlords who have a gross turnover of £50,000 or more. These changes mean quarterly submissions to HMRC using an approved software, which means bookkeeping needs to be done at least once per quarter and there are multiple deadlines to meet.
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Using an accountant for your MTD requirements, means you don't gain 8x the admin work you had before! We can manage your deadlines, make you aware of what is required to meet the MTD submission and ensure you are kept compliant throughout these regulation changes.
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If you're thinking "I don't have £50,000 turnover, it won't apply to me", well it still might! From April 2027, Sole Traders and Landlords with a gross turnover of £30,000 or more will need to use MTD for quarterly reporting; and from April 2028 those with a gross turnover of £20,000 will be caught.
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So, if you're not caught *yet*, it's still a good idea to get an understanding of what will be required, or even get in early with your preparations so the transition to quarterly reporting is smoother than butter.
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You can always book a call to discuss your position and what changes will impact you!
MTD v1
£30 per month
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Quarterly return support paid for via a monthly subscription
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Calculated via your accounting software
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Return preparation and filing with HMRC
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12 month initial contract applies.
MTD v1.2
£70 per month
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Bookkeeping for up to 30 transactions per month
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Monthly bookkeeping completed via your accounting software
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Monthly transaction reports detailing movements in the period
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Quarterly return support paid for via a monthly subscription
-
Calculated via your accounting software
-
Return preparation and filing with HMRC
​
12 month initial contract applies.
MTD v2
£40 per month
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Quarterly return support paid for via a monthly subscription
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Where you are maintaining records on a given templated spreadsheet
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Return preparation, calculation and filing with HMRC via our software
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12 month initial contract applies.
MTD v2.2
£80 per month
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Bookkeeping for up to 30 transactions per month
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Monthly bookkeeping completed via your accounting software
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Monthly transaction reports detailing movements in the period
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Quarterly return support paid for via a monthly subscription
-
Where you are maintaining records on a spreadsheet
-
Return preparation, calculation and filing with HMRC via our software
​
12 month initial contract applies.
MTD v2.1
£50 per month
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Quarterly return support paid for via a monthly subscription
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Where you are maintaining records on a spreadsheet of your own format
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Return preparation, calculation and filing with HMRC via our software
​​
12 month initial contract applies.