Making Tax Digital
Our MTD Compliance Solution is the ideal solution for Sole Traders and Landlords who need to register for Making Tax Digital under HMRC regulations. We will provide you with a tailored package including the best accounting software on the market. Read on to find out more details about Making Tax Digital (MTD), if this applies to you and how our accounting package can help you.
Does Making Tax Digital Apply to You?
Making Tax Digital is being phased in by HMRC and applies to Sole Traders and Landlords. When it is mandated to be registered by, is dependent on when you exceed the following turnover thresholds:
- £50,000 – April 2026
- £30,000 – April 2027
- £20,000 – April 2028
This considers your COMBINED turnover for both sole trader income streams and lettings and will be dependent on your figures filed in your 24/25 tax return.
You can also voluntarily sign up early for MTD if you would like to, however once signed up you will have the obligation as those mandated
The government are still currently consulting as to when, and if, smaller businesses with a turnover below the £20,000 threshold will join MTD. Check out the latest HMRC Guidance here.
What will change for me with MTD?
Making Tax Digital will change how you report tax to HMRC and you will NEED to use digital software if you do not already do so, no more spreadsheets! These are the key changes:
- You will need to do 4 quarterly submissions plus your tax return at year end.
- You must store digital records.
- Submissions need to be filed using HMRC approved software.
MTD for Landlords
Are you a landlord that is finding the digital transition daunting and are unsure how MTD will impact you? Then you are not alone!
We have devised a Landlords Guide to MTD with frequently asked questions specific to your sector.
Please check out our blog to help you navigate this change with ease!
Our MTD Compliance Package
We offer free accounting software included within this Compliance package. Dext Solo is provided by our trusted software partner Dext, and is specifically designed for Sole Traders and Landlords who are mandated for MTD.
Dext Solo enables you to easily track and store digital records for all your sales and expenses. All you need to do is take a picture! It also has great tools such as mileage, as well as CIS and Rental Statement extraction features, all of which help you stay compliant with ease.
To see more detail about how the software works, check out our videos on the Client Support Page. If you onboard with us, as part of onboarding we will setup Dext Solo for you and guide you through the software so you feel comfortable and prepared for Making Tax Digital.
MTD Client Testimonials
"Been using DL accounts for over 5 years now. Very professional and super helpful. Made the digital transition very easy and they use the latest software. They have a very experienced team on hand and have always given me any help I have needed. Could not recommend them enough! "
Ben, Self Employed
Contact Us
If you have any questions, please don't hesitate to contact us. Either give us a call, drop us an email or pop in to the office and have a chat over a nice cup of coffee.