‘Making Tax Digital’ (MTD) was introduced by the UK Government designed to digitise tax administration, particularly with regard to Income Tax and VAT – and there are multiple steps that businesses must follow to ensure compliance.
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Improve your accuracy – Errors are common when it comes to collating MTD returns, particularly among businesses that don’t have a fully digitised system in place.
Tax compliance is a highly specialist area, and it takes a lot of time and effort to get it right without having high level expertise on hand.
We will make sure you never miss a MTD deadline and always remain compliant.
The majority of businesses we support with MTD find that they simply don’t have time to manage their tax obligations to a high degree of accuracy.
Partnering with Gerald Edelman means you never have to worry about digitising your records, reporting errors, managing paperwork or submitting returns to HMRC.
We’d be happy to arrange a consultation with one of the team – simply fill in the enquiry form or call us on the number below.
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It used to be that MTD applied only to businesses over the VAT threshold of £85,000. However, as of April 2022, all VAT-registered businesses must comply with MTD rules regardless of their taxable turnover. That means the rules apply to thousands of businesses that were previously considered exempt – is yours one of them?
HMRC has also confirmed plans to expand the scope of the scheme and will introduce Making Tax Digital for Income Tax Self-Assessment (ITSA) which has now been delayed and will come into force from April 2026. The requirements will apply to any sole trader or landlord with a gross income over £50,000. For those with an income between £30,000 and £50,000, MTD regulations will apply from April 2027. The deadline requirement for partnerships still remains 6 April 2025.
Get in touch via the ‘Contact’ button above to discuss your situation with one of our expert MTD accountants, or discover more about the services we offer below.
Once the new rules for ITSA come into effect in April 2026, it will apply to any sole trader or landlord with a gross income over £50,000. For those with an income between £30,000 and £50,000, MTD regulations will apply from April 2027. The deadline requirement for partnerships still remains 6 April 2025.
Businesses will need to file a summary of their income and expenses to HMRC each quarter. If the taxpayer has more than one trade or property business (or a combination of trading and property income) then they will need to keep records and return quarterly information separately for each venture.
Businesses will also be required to file an end-of-year statement that details relevant accounting and tax adjustments, and finalises their position at the end of the tax year. The current 31 January deadline will still apply for this. If you are unsure about your reporting requirements then it’s worth getting in touch with an experienced tax adviser to discuss your situation.
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02 June 2025
Making Tax Digital (MTD), Tax Compliance
By Amal Shah
28 June 2023
25 October 2021
Business Advisory
VAT Specialists
Tax Advisory
