MHC & CO

MHC & CO Chartered Accountants

Why are more sole traders moving to MTD software?With Making Tax Digital coming in for Income Tax, a lot of sole traders...
17/04/2026

Why are more sole traders moving to MTD software?
With Making Tax Digital coming in for Income Tax, a lot of sole traders are starting to rethink how they manage their records. For some, it’s just about staying compliant. For others, it’s also about making day-to-day bookkeeping a bit easier.
Instead of keeping everything on paper or spreadsheets, MTD requires records to be kept digitally and submitted to HMRC on a regular basis. That’s where the right software makes a real difference.
Most sole traders we speak to prefer using tools like Xero, Sage or QuickBooks. Once things are set up, tasks like tracking income, recording expenses and preparing updates become much more straightforward.
There are a few practical benefits that come with using MTD software:
✔ You can see your financial position more clearly throughout the year
✔ There’s less chance of errors or missed entries
✔ A lot of the routine bookkeeping can be automated
✔ It saves time when it comes to reporting to HMRC
✔ You get a better overall view of how your business is performing
With the upcoming thresholds (from April 2026 and 2027), it’s something many sole traders will need to deal with sooner rather than later.
If you’re not sure which software is right for you, or how to get started, it’s usually easier to sort it out early rather than rushing closer to the deadline.
At MHC & Co Chartered Accountants, we work with sole traders across the UK and help them get everything set up properly, so they can focus on running their business without worrying about compliance.
📞 +44 333 789 1010
📧 [email protected]
🌐 www.mhcandco.co.uk
📍 54 Gloucester Road North, Bristol BS7 0SJ, United Kingdom

Are you an electrician? Here’s something worth keeping in mind.From April 2026, Making Tax Digital for Income Tax starts...
16/04/2026

Are you an electrician? Here’s something worth keeping in mind.

From April 2026, Making Tax Digital for Income Tax starts coming into play. If your business income goes over £50,000, you’ll likely need to keep digital records and send updates to HMRC every quarter.

A lot of electricians we speak to are still using paper notes or keeping receipts in folders. That’s been fine up to now, but things are slowly changing.

Work like call-outs, installations, testing, or maintenance jobs all count towards your income. On the other side, everyday costs like tools, parts, fuel, insurance — it all needs to be tracked properly as well.

Moving to digital doesn’t have to be complicated. Once everything is set up, most people find it actually makes things easier to manage day-to-day.

If you’re not sure where to start, it’s better to get things sorted early rather than rushing closer to the deadline.

At MHC & Co Chartered Accountants, we work with electricians across the UK to help them get ready for MTD — from software setup to ongoing support.

📞 +44 333 789 1010
📧 [email protected]

🌐 www.mhcandco.co.uk

📍 54 Gloucester Road North, Bristol BS7 0SJ, United Kingdom

Many taxi and delivery drivers across the UK are starting to receive letters from HMRC about their income.Over time HMRC...
14/04/2026

Many taxi and delivery drivers across the UK are starting to receive letters from HMRC about their income.

Over time HMRC has gained greater access to information from platforms such as Uber, Bolt and Deliveroo, as well as card payments and other digital records. As a result, the figures reported through these systems are increasingly being compared with what is declared on self-assessment tax returns.

A letter from HMRC does not necessarily mean that anything is wrong. Quite often it is simply a request for clarification or confirmation of income. That said, it’s not something that should be ignored. Dealing with it early usually makes the process much simpler.

For drivers who are self-employed, keeping accurate records of platform earnings, bank payments and any cash income is important.

At MHC & Co Chartered Accountants, we regularly assist drivers throughout the UK with HMRC correspondence, self-assessment returns and reviewing reported income from ride-hailing and delivery platforms.

In case you have received a letter and do not know what to do, you may find an explanation on what to do by talking to an accountant.

📞 0333 789 1010
📧 [email protected]
🌐 www.mhcandco.co.uk
📍 54 Gloucester Road North, Bristol BS7 0SJ, United Kingdom

📞 Speak to a Chartered Accountant today.








If you run a plumbing business, this is something worth being aware of.From April 2026, HMRC is changing how self-employ...
13/04/2026

If you run a plumbing business, this is something worth being aware of.

From April 2026, HMRC is changing how self-employed income is reported. If your plumbing income goes over £50,000, you’ll likely need to follow Making Tax Digital rules.

In simple terms, this means keeping your records digitally and sending updates throughout the year instead of doing everything in one go.

For many plumbers, income can come from a mix of jobs — installations, repairs, call-outs — and expenses like tools, materials, fuel, and insurance all need to be tracked properly.

We still come across businesses keeping everything on paper or in notebooks. That approach might soon make things more difficult than they need to be.

Getting set up early usually makes the transition much smoother.

At MHC & Co Chartered Accountants, we help tradespeople get their bookkeeping sorted, choose the right software, and stay compliant with HMRC.

If you want to get ahead of the changes, feel free to have a chat with us.

📞 +44 333 789 1010
📧 [email protected]

🌐 www.mhcandco.co.uk

📍 54 Gloucester Road North, Bristol BS7 0SJ, United Kingdom

Most accountants tell you what happened last year.We help you plan what happens next.At MHC & Co – Chartered Accountants...
09/04/2026

Most accountants tell you what happened last year.
We help you plan what happens next.
At MHC & Co – Chartered Accountants in Bristol, we go beyond compliance.
Yes, we handle your accounts, VAT and tax — but we also provide real-time financial insight to help you grow with confidence in 2026.
From outsourced CFO support to financial forecasting and strategic advisory, we help small businesses move from simply “doing accounting” to making informed business decisions.
✔ Clear forecasting
✔ Practical business advice
✔ Proactive tax planning
✔ Real support — not just year-end reports
If you’re ready to stop reacting to numbers and start using them to grow, let’s talk.
📩 Book your MTD consultant today.









Received an HMRC letter about your restaurant or takeaway income?HMRC is actively cross-checking:• Just Eat & Deliveroo ...
08/04/2026

Received an HMRC letter about your restaurant or takeaway income?

HMRC is actively cross-checking:

• Just Eat & Deliveroo sales
• Uber Eats income
• Card and bank payments
• Cash takings
• Online ordering platforms

If figures don’t align, enquiries follow.

The earlier you respond properly, the easier it is to resolve.

We deal directly with HMRC on your behalf — professionally and confidentially.

Act before it escalates.

Book your free consultation today.

What actually counts as a “digital record” for MTD?This is something we get asked quite often.A lot of business owners a...
07/04/2026

What actually counts as a “digital record” for MTD?

This is something we get asked quite often.

A lot of business owners assume that keeping photos of receipts or entering figures into a spreadsheet later is enough. In practice, that’s not quite how MTD works.

HMRC expects records to be kept within a proper digital system, not typed in afterwards.

Put simply, each transaction should have a clear record — the date, category, and amount — and it needs to sit inside software that can link up correctly for submissions.

Most businesses end up using cloud accounting software like Xero, Sage or QuickBooks because it just makes life easier. Things like bank feeds can pull the data in on their own, so you’re not sitting there entering everything manually.

Where issues usually come up is when records are written on paper first and then typed in later, or when everything is re-entered manually. That approach doesn’t really meet MTD requirements.

At MHC & Co Chartered Accountants, we work closely with businesses across the UK and help them get everything in place properly, so they’re not caught off guard when it comes to HMRC.

📞 +44 333 789 1010
📧 [email protected]
🌐 www.mhcandco.co.uk
📍 54 Gloucester Road North, Bristol BS7 0SJ, United Kingdom

Running a small business shouldn’t mean handling everything on your own.At MHC & Co – Chartered Accountants, we support ...
06/04/2026

Running a small business shouldn’t mean handling everything on your own.
At MHC & Co – Chartered Accountants, we support small businesses across Bristol and the UK with clear advice, organised systems, and dependable financial support.
From self-assessment and limited company accounts to payroll, VAT and HMRC compliance, we keep your finances straightforward and stress-free — so you can focus on running your business.
One accountant. Complete support. No unnecessary complexity.
📩 Book your free consultation today.

You didn’t start your business to become a part-time bookkeeper.Late nights.Weekend paperwork.Worrying about tax deadlin...
03/04/2026

You didn’t start your business to become a part-time bookkeeper.

Late nights.
Weekend paperwork.
Worrying about tax deadlines and HMRC letters.

It doesn’t have to be that way.

At MHC & Co – Chartered Accountants, we handle your tax deadlines, compliance, payroll, VAT and company accounts — so you can focus on growing your business, not managing spreadsheets.

✔ No stress about deadlines
✔ No panic over HMRC letters
✔ More time to run your business

Let’s get your weekends back.

📩 Book your free consultation today.

📌 Who Does Making Tax Digital (MTD) Actually Apply To?Not sure whether Making Tax Digital for Income Tax applies to you?...
02/04/2026

📌 Who Does Making Tax Digital (MTD) Actually Apply To?
Not sure whether Making Tax Digital for Income Tax applies to you?
If you are self-employed or a landlord, this change is likely to affect how you report your income to HMRC.
From April 2026, MTD will apply to sole traders and landlords with business and/or rental income over £50,000.
From April 2027, the threshold reduces to £30,000.
Under MTD, you will need to:
1. Keep digital accounting records
2. Submit quarterly updates to HMRC
3. Use HMRC-approved software
For many business owners, this is a major shift from the current Self Assessment process. The right advice and systems now can save time, reduce errors, and avoid future compliance issues.
At MHC & Co Chartered Accountants, we help sole traders and landlords across Bristol and the UK get MTD-ready with compliant software, clear guidance, and ongoing support — so you stay organised, compliant, and confident.
👉 Book your free consultation and prepare properly for MTD.
📞 +44 333 789 1010
📧 [email protected]
🌐 www.mhcandco.co.uk

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