At Soldi Partners we’re committed to helping local businesses stay informed and up-to-date with the latest changes in accounting and tax. One of the biggest shifts in recent years is Making Tax Digital (MTD) – and if you’re a business owner, landlord, or self-employed, it’s something you need to know about.
What is Making Tax Digital?
Making Tax Digital is a government initiative from HMRC designed to make the UK tax system more efficient and easier to get right. The goal is to move away from paper-based processes and encourage digital record-keeping and online tax submissions.
Who Does It Affect?
Currently, MTD applies to:
All VAT-registered businesses: You must keep digital records and file VAT returns using MTD-compliant software.
Self-employed individuals and landlords earning over £50,000 per year will need to follow MTD for Income Tax (MTD ITSA) from April 2026, with those earning over £30,000 following in 2027.
Corporation Tax is expected to join the scheme further down the line, but nothing is confirmed just yet.
What Do You Need to Do?
If you're affected by MTD, here’s a simple checklist:
Keep digital records of your income and expenses
Use MTD-compliant software (we can help you choose the right one)
File your tax returns digitally through that software
It might sound like a lot to get used to, but with the right support, it’s actually a great opportunity to simplify your bookkeeping and stay on top of your finances.
How We Can Help
At Soldi Partners we’ve already helped dozens of Kent businesses make the switch to digital. Contact us today and we’ll guide you every step of the way. Let’s make tax easier – together.
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