28/08/2026
I know, you're probably tired of hearing the letters MTD as it's been the hot topic in accountancy for the past 12 months, but bear with me, because it might catch out more of you smaller sole traders from next April.
Here's why. Your accounts to 5 April 2026 are what HMRC will use to work out whether you fall into the next wave of MTD sign ups, and the turnover threshold has dropped to £30,000 (down from £50,000 last time). So if you fell just under the £50,000 threshold last time, you will likely now be required to sign up.
So what should you do? Get your 2025 to 2026 accounts done sooner rather than later. Not because there's a deadline breathing down your neck this minute, but because it gives you time to find out where you stand and get set up properly if you need to.
It really is all about the planning. Know early and you can get everything organised at a sensible pace. Leave it until January and you'll be racing to get registered before April.
If you're not sure whether this applies to you, give me a shout, happy to help you figure it out.