Making Tax Digital Archives - BS Associates Blog

Five Weeks to 7 August 2026: What to Actually Do Before Your First MTD Quarterly Update

Leave a Comment / Making Tax Digital / Pat Sharma FCA, ACCA

Most articles about the 7 August 2026 deadline stop at “here are the dates.” You’ve likely seen that version already, possibly on your own reading list, possibly on this site. What’s missing from almost all of them is the part that determines whether your first submission goes smoothly: the decisions and admin that must happen before 7 August, not on it. This is that piece. Not another explainer on who […]

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A Sole Trader’s First MTD Quarter: What Actually Happens Between 6 April and 7 August

Leave a Comment / Accounting Services London, Making Tax Digital, Tax Save Tips / Pat Sharma FCA, ACCA

Picture a self-employed electrician named Daniel who also rents a one-bed flat in Leeds. His combined turnover from the two pushed him just over £50,000 last year, so from 6 April 2026 he became one of the first people in the country required to file under Making Tax Digital for Income Tax. Walking through what happens to someone like Daniel,

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MTD for Income Tax: Does It Apply If You Have Rental Income and Self Employment?

Leave a Comment / Making Tax Digital / Pat Sharma FCA, ACCA

Short answer: Almost certainly yes, and there is a detail in how the system works that most people in your position do not find out until it is too late to prepare properly. If your gross income from self-employment and property combined exceeded £50,000 in the 2024/25 tax year, Making Tax Digital for Income Tax has applied

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MTD for Income Tax: Are You Ready for the 7 August 2026 Deadline?

Leave a Comment / Accounting Services London, HMRC News, Making Tax Digital / Pat Sharma FCA, ACCA

If you earn over £50,000 from self-employment or property, your first Making Tax Digital for Income Tax quarterly update is due by 7 August 2026. Here is what you need to do before that deadline arrives. The Tax Reporting Change That Is Already in Effect Since 6 April 2026, Making Tax Digital for Income Tax

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MTD for Income Tax Is Already Live: What UK Sole Traders and Landlords Need to Fix in 2026

Leave a Comment / Making Tax Digital / Pat Sharma FCA, ACCA

If you are a sole trader or landlord in the UK, there is a good chance you have already received emails, software alerts, or HMRC letters about Making Tax Digital for Income Tax (MTD for IT). And for many taxpayers, the first reaction has been: “What exactly am I supposed to do now?” Since April 2026,

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MTD Is Not Just Digital Filing: The Real Challenges UK Businesses Are Still Overlooking

Leave a Comment / Making Tax Digital / Pat Sharma FCA, ACCA

Most UK business owners think Making Tax Digital (MTD) just means switching from spreadsheets to software and submitting tax updates online. It sounds straightforward to enter your numbers, click submit, and you’re done. But in reality, it’s not that simple. Making Tax Digital for Income Tax changes how you manage your finances throughout the year, not just at tax time. It expects your

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Joint Rental Income Under MTD: How HMRC Expects You to Split and Report Earnings

Leave a Comment / Making Tax Digital / Pat Sharma FCA, ACCA

If you jointly own a rental property, you may already be splitting the income and declaring it each year. On the surface, it seems straightforward. However, with the introduction of Making Tax Digital, the way rental income is recorded and reported has changed in a way that many landlords are still adjusting to. Under Making Tax Digital for

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Not Ready for MTD Yet? Here’s What You Should Do Before April 6

Leave a Comment / Making Tax Digital / Pat Sharma FCA, ACCA

If you’re a sole trader or landlord in the UK, the shift to making tax digital for income tax self assessment is no longer something to plan for later. It starts on April 6, 2026, and for many people, that deadline has come around faster than expected. If you’re feeling behind, confused, or unsure where to begin, you’re not alone. A lot of business owners and

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7 Common Mistakes Sole Traders Make When Preparing for Making Tax Digital

Leave a Comment / Making Tax Digital / Pat Sharma FCA, ACCA

The way self employed individuals report their income to the UK tax authority is about to change significantly. Through the HM Revenue & Customs Making Tax Digital programme, the government is moving away from annual tax reporting towards a digital, more frequent system. From April 2026, individuals earning more than £50,000 from self employment or

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Making Tax Digital for Income Tax from April 2026: A Guide for UK Sole Traders and Landlords

Leave a Comment / HMRC News, Making Tax Digital, Property taxes, Self Assessment tax return / Pat Sharma FCA, ACCA

From 6 April 2026, HMRC will introduce a significant change to how UK sole traders and landlords report their income. Under Making Tax Digital for Income Tax, individuals with qualifying income above £50,000 will no longer rely solely on an annual Self Assessment return. Instead, they will be required to keep digital records and submit updates throughout the tax year. This change is part

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