Making Tax Digital for Income Tax Self Assessment (MTD ITSA)
As a sole trader or landlord the way that you have to submit your personal financial information to HMRC is changing.
From April 2026 any self employed business owner or landlord with a total annual income of £50,000 or more will have to submit quarterly income and expenditure updates to HMRC, an end of period statement and a final declaration. This will replace the current end of year tax return.
Your financial records will also need to be maintained in digital format, ideally using software which is approved by HMRC. Keeping paper based records alone will no longer be allowed.
This is a significant change to the UK tax system and one that it's vital you are ready for.
How can Jolly Books help me prepare for MTD?
We can help you:
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Submit your quarterly MTD ITSA Income and Expenditure statements
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Avoid any HMRC fines and penalties
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Calculate your end of year tax position and submit your end of period statement
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Ensure your tax is paid on time
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Keep your financial records up to date so your quarterly statements are accurate and you don't get any nasty surprises
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Setup your MTD processes and controls
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Provide advice regarding the most suitable accounting software to ensure maintaining your MTD records is a breeze
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Train and support you to use the software