Making Tax Digital

What is Making Tax Digital for Income Tax Self-Assessment?

Making Tax Digital for Income Tax Self-Assessment (MTD for ITSA) is a HM Revenues & Custom initiative aimed at modernising the UK tax system, and how self-employed businesspeople and landlords report their taxes.

The initiative replaces the traditional annual self assessment process with a requirement to file digital reports at four quarterly stages of the year.

The legislation requires people to:

  • Keep digital records of income and expenses using compliant accounting software approved by HMRC;
  • Submit quarterly reports to HMRC;
  • File an End of Period Statement and annual declaration.

Who will be impacted by MTD for ITSA, and when?

Self-employed businesspeople and property landlords will be required to comply with the legislation.

The rollout of the initiative is being phased based on income thresholds (Please Note: these thresholds apply to gross income before expenses).

From April 2026: Those with a gross income over £50,000

From April 2027: Those with a gross income over £30,000

From April 2028: Those with a gross income over £20,000

In the coming years, it is likely most self-employed businesspeople and landlords in the UK will be impacted by the legislation.

HAVE A LOOK AT OUR MTD FACTSHEET

How Saint & Co can help you be MTD for ITSA compliant

We have launched a toolkit (see here) to help people ensure they meet the new income tax self assessment reporting legislation. Included in the toolkit is:

  • A downloadable factsheet here explaining everything you need to know about MTD for ITSA
  • A downloadable checklist which will help you understand if, and when, you meet the requirements
  • A video explaining people how to file digital reports to ensure you hit the criteria
  • A downloadable list of MTD for ITSA complaint software as approved by HMRC

What services we offer

Saint & Co offers a range of services tailored to your needs to ensure you’re set up correctly for the new legislation.

  • MTD for ITSA reporting software set-up and ongoing support
  • Quarterly VAT submission assistance for landlords, sole traders and small businesses
  • Hassle-free, cloud bookkeeping and training

• Real-time advice and year-round support from a trusted Saint & Co adviser

How working with Saint & Co will benefit you

A trusted firm with 140 years of experience supporting businesses and individuals.

We have an exceptional track record of providing expert advice, reliability and personal service, and helping clients transition smoothly into the digital era of tax.

With a high level of expertise in using MTD for ITSA compliant software, such as Xero, we have the cloud-based tools required to save you time and reduce stress when filing your quarterly reports.

You will also have access to your own dedicated MTD for ITSA adviser who will be on hand to provide assistance all-year round.

Saint & Co’s Making Tax Digital Toolkit

 

Watch our MTD explanation video, below:

Get in touch

Get started on your MTD for ITSA journey today.

Email: advice@saint.co.uk

Phone: 01228 534371

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