This will require these taxpayers to record their income, report and submit information digitally on a quarterly basis using HMRC-compliant software or a suitable bridging solution, as well as an annual return, similar to the current Self Assessment process.

Taxpayers must keep up to date with MTD for Income Tax, as they could face fines or penalties if they do not comply in the future.

Our team has prepared a helpful guide, which is packed with information on the various stages of Making Tax Digital and what you may need to report.

There is now only a short window of time left to prepare for these changes, so if you are still unprepared take action now.

Act now

As the Making Tax Digital initiative continues to progress through its various stages, we are on hand to assist you with any queries or questions that you may have.

To arrange a Making Tax Digital consultation with our team, please contact us.

Watson Buckle here to help

We can also support you with all the general aspects of running a business, including payroll, bookkeeping, management and annual accounts and audits.

For further details or to arrange a free, no obligation meeting, please contact a member of our team.