18/06/2026
Making Tax Digital for Income Tax is now in force. Sole traders and landlords above the income threshold are now legally required to keep digital records and file quarterly returns, not annually.
The compliance deadlines are real. The software decisions need making now. The penalties for getting it wrong are also real.
Read the full story: https://elitebusinessmagazine.co.uk/finance/financial-management/item/making-tax-digital-is-here-what-small-businesses-need-to-know-now
MTD has been "coming soon" for so long that a significant number of sole traders and small business owners tuned it out. That was understandable. It's less understandable now it's actually here.
The practical steps aren't especially burdensome (compatible accounting software, quarterly updates to HMRC, same annual return), but they do require a decision and ignoring it doesn't make the deadline move.
The businesses that handle compliance well tend to be the ones that create the space, literally and mentally, to stay on top of this kind of thing rather than catching it in a panic at year end.
Worth twenty minutes now, or a harder conversation with your accountant in January?