MTD Sole Trader Accountancy Package
If you currently use an annual Self Assessment service you may need to make a change.
Making Tax Digital for Income Tax means you will need to switch to an ongoing accountancy service, rather than the current once-a-year one.
To comply, you’ll be required to submit quarterly returns—that’s four updates every three months—to HMRC detailing your income and expenses.
When Does MTD ITSA Start
Making Tax Digital (MTD) for Income Tax is being introduced in a staggered manner:
From April 2026, individuals with an income exceeding £50,000
From April 2027, individuals with an income exceeding £30,000
From April 2028, individuals with an income exceeding £20,000
What Does MTD ITSA Require
MTD for Income Tax requires that the tax payer:
Keeps digital records
Submits quarterly updates
This creates quite a different scenario to the traditional, annual Tax Return.
Switching from the traditional annual tax return may feel daunting, but we’ve got you covered. Our services include:
Get you set up with bookkeeping software to maintain digital records, including issuing invoices to customers
Complete your monthly bookkeeping, each month
Use the completed bookkeeping records to submit your quarterly updates
Complete your end of year accounts as required under MTD
Our MTD Sole Trader Package
Our new MTD Sole Trader Package is ready to go.
It ensures that all MTD requirements are met, and also includes all accountancy needs throughout the year, and for the year end.
If you don't quite require one of our normal Accounts Packages, maybe you only have a few sales and expenses per month, then our MTD Sole Trader Package may be a better fit for you.
It's designed to replace the current Annual Self Assessment services with an MTD solution for such clients.
