16/03/2026
📢 Upcoming Changes for Sole Traders
HMRC is introducing Making Tax Digital (MTD) for Income Tax, which will change how many sole traders report their income.
Instead of submitting one Self Assessment tax return each year, eligible businesses will need to:
• Keep digital records of income and expenses
• Submit quarterly updates to HMRC
• Complete a final end-of-year declaration
These changes will apply to sole traders and landlords with income over £50,000 from April 2026, and over £30,000 from April 2027.
While this may sound like extra work, using the right bookkeeping system can make the process simple and stress-free.
💬 If you’re unsure whether this affects you, get in touch and I can help you prepare early.
