Making Tax Digital - Income Tax
As you may be aware, HMRC is rolling out the next phase of its Making Tax Digital (MTD) initiative — part of the government’s long-term plan to transition to a fully digital tax system.
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From April 2026, self-employed individuals and landlords with annual business or property income over £50,000 will be required to comply with MTD for Income Tax. This will extend to those earning over £30,000 from April 2027. These changes will affect how we manage your tax reporting and will require a shift from annual submissions to quarterly digital returns.
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To ensure you’re fully prepared and remain compliant, we’ll need to implement cloud-based accounting software ahead of time. We recommend using FreeAgent, which is designed to help simplify your day-to-day financial admin and make sharing data with us seamless. For clients who open a free business bank account with Mettle, FreeAgent is available at no cost.
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Prices will include:
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Yearly Self Assessment
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Quarterly returns
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Software (either free with Mettle bank or paying the subscription cost)
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A dedicated specialist to manage your day-to-day financial records
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Total monthly payments: From £60 per month or £50 per month with free subscription
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Please get in touch if you would like to start the MTD IT journey and we will send over a proposal.
Contact Us
Contact Diamond Bookkeeping Ltd for your local Chichester or Virtual bookkeeper.
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Call or email today for your FREE consultation so we can free up your time and let you do what you love!