The Making Tax Digital (MTD) government initiative introduces a new reporting rhythm for self-employed people and landlords. If your combined self-employment and property income is more than £50,000 (based on your 2024/25 tax return), you should already be using MTD. The threshold will fall to more than £30,000 from April 2027 based on your 2025/26
If you’re a sole trader and Making Tax Digital for Income Tax (MTD for IT) is making you rethink your business structure, you’re not alone. We’ve spoken to many business owners who are asking the same question: “If I become a limited company, can I get out of quarterly MTD reporting?” The answer is technically
If Making Tax Digital is on your radar, working out your qualifying income is one of the quickest ways to find out whether the new rules apply to you. To work out your qualifying income for Making Tax Digital (MTD) for Income Tax, add together your annualised self-employment income and any property income for the
As of April 2026, Making Tax Digital for Income Tax Self-Assessment (MTD ITSA) has officially begun rolling out for self-employed individuals and landlords whose gross combined income from rental and self-employment in the 2024/25 tax year exceeds £50,000. If it applies to you, it means big changes to how you manage and report your finances.
If you live in the UK and earn money through self-employment or property income, then yes, your accountant can take care of most (if not all) of the MTD process. For many landlords, sole traders, and small business owners, it’s often the simplest and least stressful way to stay compliant. As experienced Making Tax Digital accountants,
As part of our commitment to improving efficiency and preparing for Making Tax Digital (MTD), we recently transitioned our internal bookkeeping software from Sage to Xero. Like many businesses, we were looking for a smarter, more streamlined way to manage our finances, reducing manual processes and improving accuracy. We have now implemented a fully digital,
If you’re a landlord, Making Tax Digital (MTD) might already be on your radar, and if it isn’t, now is the time to start paying attention. From April 2026, many landlords will need to comply with the new rules for MTD for Income Tax. This means you’ll need compatible software to make it work. Vital
More and more people are selling items online, whether it’s unwanted clothes on Vinted, old furniture on Facebook Marketplace, or making additional income (sometimes called a ‘side hustle’) through eBay, Etsy, or Amazon. But when does selling online cross the line into something HMRC views as taxable? If you’ve wondered whether you need to pay
As the rollout of Making Tax Digital (MTD) for Income Tax Self-Assessment (ITSA) approaches, many sole traders and landlords still have questions about what’s required of them. At Treetops Chartered Accountants, we want to take the stress out of tax and help you stay informed and confident about the changes ahead. Keep reading as we
