Accounting Blog

Learn what “income excluded” means in Making Tax Digital for Income Tax. This guide explains which income types fall outside MTD quarterly reporting, including PAYE wages, pensions, dividends, interest, capital gains, and other non-business income, and clarifies common misconceptions about tax-free versus excluded income.

Can you still use spreadsheets under Making Tax Digital? This practical guide explains when spreadsheets remain compliant, what digital records and digital links really mean, and when bridging software is needed. Ideal for small businesses and landlords who want confidence, clarity, and fewer headaches at filing time under MTD rules.

Making Tax Digital penalties are not one-size-fits-all. This guide explains how late submission points, late payment charges, inaccuracy penalties and record-keeping failures work under MTD, why errors can trigger multiple regimes, and what practical steps businesses can take to reduce compliance risk and avoid costly penalties.

Quarterly tax updates help sole traders report income and expenses throughout the year instead of relying on a annual return. This guide explains what quarterly updates are, why they exist, how they fit into the tax cycle, and how record keeping can reduce stress, manage cash flow, and avoid surprises.

Will Making Tax Digital increase your tax bill? MTD doesn’t change tax rates, but it can change accuracy, behaviour, and cash flow. Better records may reveal missed income or unlock overlooked expenses. This guide explains when tax rises, when it falls, and how to avoid surprises for UK businesses today.

Understand Making Tax Digital for Income Tax as a sole trader. Learn who must register, how income thresholds work, what digital record keeping involves, and when MTD applies. This practical guide explains registration timing, quarterly updates, exemptions, and how to prepare confidently for HMRC’s MTD for Income Tax changes rules.

Making Tax Digital changes more than how you file tax. It requires digital record keeping, compatible software, and secure digital links. This guide explains who is at risk of non-compliance, the penalties and practical consequences, and how HMRC enforces MTD rules and what businesses must do to stay compliant today.

Confused by “HMRC compatible” software? This guide explains what compatibility really means for very small UK businesses, from MTD for VAT to payroll and CIS. Learn which HMRC obligations matter, what tools qualify, and how to choose affordable software that genuinely reduces admin and stays compliant all year round efficiently.

Understand how often sole traders must submit updates under Making Tax Digital for Income Tax. This guide explains quarterly updates, End of Period Statements and final declarations, how many submissions to expect each year, and why MTD reporting is about regular digital record keeping, not quarterly tax payments for compliance.