{"id":144,"date":"2025-06-21T20:02:02","date_gmt":"2025-06-21T20:02:02","guid":{"rendered":"https:\/\/juliusandjuliusandassociates.co.uk\/blog\/?p=144"},"modified":"2026-02-13T22:17:24","modified_gmt":"2026-02-13T22:17:24","slug":"what-you-need-to-know-about-mtd-for-income-tax-and-how-your-accountant-can-help","status":"publish","type":"post","link":"https:\/\/juliusandjuliusandassociates.co.uk\/blog\/2025\/06\/21\/what-you-need-to-know-about-mtd-for-income-tax-and-how-your-accountant-can-help\/","title":{"rendered":"What You Need to Know About MTD for Income Tax \u2013 And How Your Accountant Can Help"},"content":{"rendered":"

\"\"<\/p>\n

If you’re self-employed and\/or a landlord in the UK, major changes are coming that will affect how you manage your finances and taxes.<\/p>\n

It\u2019s called Making Tax Digital for Income Tax Self Assessment (MTD for ITSA), and from April 2026, it will become mandatory for many taxpayers.<\/p>\n

The good news? With the right preparation and professional support, this can be a smooth (and even beneficial) transition.<\/p>\n

\ud83d\udccc Who Needs to Pay Attention?<\/p>\n

<\/p>\n

\u2705 From April 2026 \u2014 If your total income from self-employment and\/or property exceeds \u00a350,000, you must follow MTD rules.<\/p>\n

\u2705 From April 2027 \u2014 Those earning between \u00a330,000 and \u00a350,000 will also be required to comply.<\/p>\n

\u2705 From April 2028 \u2014 The government plans to extend MTD to individuals earning over \u00a320,000.<\/p>\n

\u2705 Under \u00a320,000 \u2014 Requirements are still under review, but early preparation is strongly recommended.<\/p>\n

(Income thresholds are based on gross income from self-employment and property combined, not profit.)<\/p>\n

\ud83e\uddfe What Will Change?<\/p>\n

You\u2019ll no longer file just one tax return each year. Instead:<\/p>\n

\u2022 You must keep digital records of income and expenses.
\n\u2022 You\u2019ll send quarterly updates to HMRC (every 3 months).
\n\u2022 You\u2019ll submit an End of Period Statement (EOPS) for each business or property.
\n\u2022 You\u2019ll complete a final declaration confirming all income and claiming reliefs.<\/p>\n

All submissions must be made using HMRC-compatible software. Paper records alone won\u2019t meet the requirements (though spreadsheets may be used if digitally linked to approved software).<\/p>\n

\ud83d\udc69\u200d\ud83d\udcbc How Your Accountant Can Help You<\/p>\n

This may sound like a big shift, but your accountant can take most of the burden off your shoulders.<\/p>\n

\u2705 1. Explain What MTD Means for You
\nThey\u2019ll review your income sources, confirm when you must comply, and plan your transition.<\/p>\n

\u2705 2. Help You Go Digital
\nThey\u2019ll recommend suitable software, set up systems, and provide training \u2014 or manage the process for you.<\/p>\n

\u2705 3. Keep You Compliant
\nThey\u2019ll submit updates on time and help you avoid penalties.<\/p>\n

\u2705 4. Improve Financial Visibility
\nDigital records provide real-time insights into income, expenses, and tax liabilities, helping you make better business decisions.<\/p>\n

\ud83d\uddd3\ufe0f Key Dates to Remember<\/p>\n

\u2022 Now \u2014 Speak to your accountant and start preparing
\n\u2022 April 2026 \u2014 Mandatory for income over \u00a350,000
\n\u2022 April 2027 \u2014 Applies to \u00a330,000\u2013\u00a350,000 income
\n\u2022 April 2028 \u2014 Planned extension to income over \u00a320,000
\n\u2022 Quarterly \u2014 Regular digital updates to HMRC required<\/p>\n

\ud83d\udcac Final Thoughts<\/p>\n

You don\u2019t need to be a tech expert. You just need the right accountant who understands your business and can guide you through the transition.<\/p>\n

Making Tax Digital is here to stay. But with the right support, it doesn\u2019t have to be stressful. Start preparing now.<\/p>\n","protected":false},"excerpt":{"rendered":"

If you’re self-employed and\/or a landlord in the UK, major changes are coming that will affect how you manage your finances and taxes. It\u2019s called Making Tax Digital for Income Tax Self Assessment (MTD for ITSA), and from April 2026, it will become mandatory for many taxpayers. The good news? With the right preparation and […]<\/p>\n","protected":false},"author":2,"featured_media":0,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"om_disable_all_campaigns":false,"_monsterinsights_skip_tracking":false,"_monsterinsights_sitenote_active":false,"_monsterinsights_sitenote_note":"","_monsterinsights_sitenote_category":0,"footnotes":""},"categories":[1],"tags":[],"class_list":["post-144","post","type-post","status-publish","format-standard","hentry","category-tax-insights-blog"],"aioseo_notices":[],"_links":{"self":[{"href":"https:\/\/juliusandjuliusandassociates.co.uk\/blog\/wp-json\/wp\/v2\/posts\/144","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/juliusandjuliusandassociates.co.uk\/blog\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/juliusandjuliusandassociates.co.uk\/blog\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/juliusandjuliusandassociates.co.uk\/blog\/wp-json\/wp\/v2\/users\/2"}],"replies":[{"embeddable":true,"href":"https:\/\/juliusandjuliusandassociates.co.uk\/blog\/wp-json\/wp\/v2\/comments?post=144"}],"version-history":[{"count":3,"href":"https:\/\/juliusandjuliusandassociates.co.uk\/blog\/wp-json\/wp\/v2\/posts\/144\/revisions"}],"predecessor-version":[{"id":149,"href":"https:\/\/juliusandjuliusandassociates.co.uk\/blog\/wp-json\/wp\/v2\/posts\/144\/revisions\/149"}],"wp:attachment":[{"href":"https:\/\/juliusandjuliusandassociates.co.uk\/blog\/wp-json\/wp\/v2\/media?parent=144"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/juliusandjuliusandassociates.co.uk\/blog\/wp-json\/wp\/v2\/categories?post=144"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/juliusandjuliusandassociates.co.uk\/blog\/wp-json\/wp\/v2\/tags?post=144"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}