For sole traders and landlords with qualifying income over £50,000, Making Tax Digital (MTD) for Income Tax is now a reality.
The first quarterly update deadline has now passed, giving many taxpayers their first experience of keeping digital records and submitting information to HMRC under the new rules. While the process may have been straightforward for some, others may have found it more time-consuming or confusing than expected.
With the first update out of the way, it is important to start preparing for the next one.
When is the next MTD deadline?
The next quarterly update is due by 7 November 2026.
This means there is still time to make sure your digital records are up to date and that you have the right systems in place ahead of the next submission.
Need a little more support with MTD?
MTD represents a significant change in the way many self-employed individuals and landlords manage their tax affairs.
Keeping accurate digital records throughout the year is now more important than ever. Having the right software and processes in place can make managing your records and submitting quarterly updates considerably easier.
How can Armstrongs help?
At Armstrongs, we can support you throughout the MTD process, including:
- Understanding your MTD obligations
- Digital bookkeeping and record keeping
- Choosing and setting up compatible software
- Preparing and submitting quarterly updates
- Ongoing support throughout the tax year
Make your next MTD submission easier
If your first quarterly update highlighted areas where you could use some extra support, now is a good time to review your processes before the next deadline.
Whether you need help choosing software, keeping your records digitally or submitting your quarterly updates, our team can help you put the right systems in place and make future MTD submissions easier.
Get in touch with Armstrongs today to find out how we can help.
