Making Tax Digital for Income Tax
Straightforward MTD support for sole traders and landlords
Making Tax Digital for Income Tax is changing how many sole traders and landlords keep their accounting records and report information to HMRC.
If you're affected, you'll need to keep digital records using compatible software and send quarterly updates to HMRC.
I can help you understand when MTD applies to you, get your bookkeeping and software ready and provide ongoing support with your MTD requirements.
Will MTD for Income Tax apply to you?
MTD for Income Tax is being introduced in stages for sole traders and landlords. When you need to start depends on your qualifying income from self-employment and property. Qualifying income means your gross income before expenses and tax. If you have both self-employment and property income, these are considered together.
If your qualifying income was over £50,000 for the 2024/25 tax year, you should have started complying with MTD for Income Tax from 6th April 2026. If your qualifying income for 2025/26 was over £30,000 you will need to comply from 6th April 2027. If your qualifying income exceeds £20,000 in the current tax year, 2026/27, you will need to comply from 6th April 2028.
Not sure if MTD applies to you? I can review your circumstances, check your qualifying income and explain when you'll need to start.
What will you need to do?
Keep digital records
You'll need to keep digital records of your self-employment or property income and expenses using MTD-compatible software.
Send quarterly updates
You will need to use your software to send summaries of your income and expenses to HMRC every three months. These are quarterly updates, not additional tax returns.
Submit your tax return
After the end of the tax year, you'll still need to finalise your tax position and submit your tax return using compatible software.
Why Choose Tunstall Accounting?
I can help you to determine when MTD for Income Tax applies to you, choose suitable MTD-compatible software and move your existing records across. Depending on the level of support you need, I can also provide ongoing bookkeeping, prepare and submit your quarterly submissions and complete your year-end tax return.
You'll deal directly with me throughout and I will work with you to get to know your business, your records and how you prefer to work.