Making Tax Digital for Income Tax Self-Assessment

Under MTD for ITSA, sole trader businesses and landlords will need to keep and maintain digital records and use MTD compatible software to manage, track and send updates to HMRC. Typically these will be your ‘shoe box’ clients who aren’t using software today, either because you’re doing the record keeping for them, or because they’re unable to find software that meets their needs. Having your clients on bookkeeping software, rather than paper or spreadsheets, will make quarterly reporting far more efficient. It will also ensure clients are compliant with digital record keeping requirements. We recognise that MTD for ITSA may feel like a big change to both your practice and your clients.