The advent of Making Tax Digital for Income Tax (MTD), from April 2026, brings about huge change to the reporting standards and record keeping requirements of individual taxpayers. Sole traders and landlords with gross receipts from trade(s) over £50k are required to maintain digital accounting records and file quarterly updates with HMRC, via compatible accounting software.

Over the course of 2026/27, 2027/28 and 2028/29, Making Tax Digital will capture sole traders and landlords with turnover of £50k, £30k and £20k respectively.

As part of our bookkeeping and tax advisory services we can support you through the whole process, from sign up and software set-up to quarterly update filing and tax reporting.

Via our recommended software of choice, Xero, we can manage or support your bookkeeping requirements, including digital document capture, prepare and file the quarterly update with HMRC and compile your self-assessment return.

If you’re a sole trader and/or landlord with annual turnover over £20,000, contact us today to find out how we can help!