Making Tax Digital for Self Assessment
Prepare Your Business for Making Tax Digital (MTD) for Income Tax
Making Tax Digital (MTD) for Income Tax is changing the way many sole traders and landlords keep their records and report their income to HMRC.
Instead of submitting just one Self Assessment tax return each year, many individuals will need to keep digital records and send regular updates to HMRC using compatible software.
At Maidstone Advisory, we help businesses and landlords prepare for these changes, ensuring you remain compliant while making the process as simple and stress-free as possible.
What Is Making Tax Digital for Income Tax?
Making Tax Digital (MTD) is HMRC’s initiative to modernise the UK tax system.
If you’re affected, you’ll need to:
Keep digital accounting records.
Use HMRC-compatible software.
Submit quarterly updates to HMRC.
Complete an End of Period Statement (EOPS), where applicable.
Submit a Final Declaration each year.
Although reporting becomes more frequent, the aim is to make tax reporting more accurate and reduce errors.
Who Will Be Affected?
Making Tax Digital for Income Tax is being introduced in phases.
You may need to comply if you’re:
A sole trader.
A self-employed business owner.
A landlord receiving rental income.
Someone with qualifying self-employment and/or property income above the relevant HMRC thresholds.
If you’re unsure whether the rules apply to you, we can review your circumstances and explain exactly what you’ll need to do.
Request a quote or ask for advice
We’re here to give you the friendly, expert accounting advice you need.
How We Can Help
We provide end-to-end support with Making Tax Digital, including:
Assessing whether MTD applies to you.
Setting up cloud accounting software.
Migrating from spreadsheets or paper records.
Digital bookkeeping.
Quarterly submissions to HMRC.
Year-end reporting.
Ongoing tax advice.
Training and support.
Cloud Accounting Made Simple
Making Tax Digital works best when your accounting records are maintained throughout the year rather than being completed just before the tax return deadline.
We work with modern cloud accounting software, giving you:
Real-time financial information.
Secure digital record keeping.
Automatic backups.
Easier tax reporting.
Reduced paperwork.
Greater visibility over your business finances.
Why Choose Maidstone Advisory?
Making Tax Digital isn’t simply about meeting a legal requirement.
It’s an opportunity to improve the way your business manages its finances.
As Chartered Accountants, we help you:
Stay compliant with HMRC.
Choose the right accounting software.
Keep accurate digital records.
Understand your business performance.
Plan ahead for tax liabilities.
Receive proactive advice throughout the year.
Frequently Asked Questions
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Making Tax Digital (MTD) is HMRC’s programme to digitise the UK tax system by requiring eligible taxpayers to maintain digital records and submit information using approved software.
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If Making Tax Digital applies to you, you’ll generally need to keep digital records and use software that is compatible with HMRC’s systems.
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Yes. We can help transfer your existing records into cloud accounting software and ensure everything is set up correctly.
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The annual process changes under MTD. In addition to quarterly updates, you’ll also need to complete the required year-end submissions before your tax position is finalised.
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Absolutely. We can manage your bookkeeping, quarterly updates, year-end reporting and provide ongoing tax advice, allowing you to focus on running your business.
Get Ready for Making Tax Digital
Making Tax Digital represents one of the biggest changes to Self Assessment in recent years, but with the right support it doesn’t need to be complicated.
Whether you’re a sole trader, landlord or self-employed business owner, Maidstone Advisory can help you prepare for the changes and remain fully compliant.
Contact us today to discuss how we can support your transition to Making Tax Digital.