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From 6 April 2026, Making Tax Digital for Income Tax Self-Assessment (MTD for ITSA) will apply to UK sole traders and landlords with combined self-employment and property income over £50,000 before expenses. Affected individuals will need to keep digital financial records and submit quarterly updates to HMRC using approved software as part of HMRC’s plan to modernise the tax system. It’s advisable to start preparing now by adopting MTD-compliant software and moving to digital record-keeping ahead of the deadline to ensure a smooth transition. Contact Honey Barrett today and let us help you prepare for MTD

Making Tax Digital for Self-Assessment offers several benefits, including clearer visibility of your tax position throughout the year through digital records and quarterly updates, helping to avoid unexpected bills. It can also reduce errors, save time, and improve financial efficiency. Using compliant software keeps your records organised, ensures you stay up to date with HMRC requirements, and gives you greater control and peace of mind. Contact Honey Barrett today and let us help you prepare for MTD

Under Making Tax Digital for Income Tax, each sole trade business or rental property must have separate digital records, with individual quarterly updates and an End of Period Statement for each income source. If you have multiple businesses or rental properties, it is recommended to use separate bank accounts for each to stay organised. Although this increases administrative work, MTD-compatible software can help manage everything in one place and keep you compliant and in control. Contact Honey Barrett today and let us help you prepare for MTD

From April 2026, Making Tax Digital for Income Tax will apply to self-employed individuals and landlords earning over £50,000 annually from sales and rent. They will need to keep digital records using MTD-compatible software, submit quarterly updates to HMRC instead of an annual return, and complete an End of Period Statement plus a Final Declaration. Those with multiple income sources are advised to use separate bank accounts for each. Overall, the system aims to improve accuracy and move tax reporting to a more regular, digital process. Contact Honey Barrett today and let us help you prepare for MTD

This video demonstrates how GP Locums can record their income correctly on Xero, helping to manage your finances digitally and efficiently.

From 6 April 2026, if you earn £50k+ a year, you’ll need to start keeping digital records and use MTD-compatible software to track income and expenses as they happen and not just at year-end. If you earn £30k–£50k your start date is April 2027. It’s all part of HMRC’s plan to make tax simpler, faster, and more accurate.

Our team of experts will guide you through MTD requirements, helping you choose the right software, set up digital record keeping, and make sure your quarterly updates and final submissions are accurate and on time. We also provide tax planning advice and help spot issues early, which keeps you fully prepared.

Take a look at our latest video and find out if you have the correct software for Making Tax Digital for ITSA. From April 2026, self-employed people and landlords earning over £50,000 a year must use MTD-compatible software. This can be cloud software like Xero, Quickbooks, Sage, or bridging tools, as long as it’s HMRC-approved.

Take a look at this informative video which will help you prepare for MTD. If your self-employment and property income is below £50,000, you’re not affected in April 2026. If you earn over £30k you’ll need to start from April 2027. HMRC allows voluntary sign-up now, so why wait?

Take a look, at our video to see how we can make MTD work for you. If you’re affected by MTD, you’ll submit quarterly updates and a final declaration through approved software instead. It’s still about reporting your income, just in a more digital, streamlined way.

This video covers the basics of Xero accounting software, tailored to help you prepare for Making Tax Digital (MTD). Whether you’re new to Xero or looking to enhance your skills, this video will give you a basic understanding for managing your finances digitally and efficiently.

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If you are a Practice Manager or GP partner dealing with the practice finances and want an accounting system that can save you time and help to improve profitability through better information, then take a look at the video from our latest webinar. We provide an overview of how Xero works and include some handy tips and tricks to make the most of this excellent system which is a great fit for GP practices.

Xero is a cloud based online accounting software that connects you with your numbers, your business and your advisors anytime, from any device. Xero software has the time-saving tools you need to grow your business. For further information about Xero please click on the video.

Honey Barrett are specialist medical accountants find out how we can help you understand your business and financial issues surrounding them. For further information, watch the video.