MTD for ITSA

Changing times … making the change to MTD ITSA simple

How tax returns are prepared and submitted is changing, paper returns will disappear, and returns will have to filed quarterly.

These returns include total income and expenses arising every three months.

An annual end-of-period statement will also need to be filed on or before 31 January, following the end of the relevant tax year.

The date of change is approaching, and action needs to be taken now to ensure you are prepared

The change will affect most self-employed taxpayers with business or property income over £10,000 a year from 5 April 2024, with general partnerships being affected from 4 April 2025. 

For many it will be a big change moving from manual record keeping to electronic records, also having to keep business and personal records separately.

Don’t worry, as much of the record keeping can be done using your mobile phone.

Change is always daunting but don’t worry we are here to help you and to take away any concerns

  • We’ll ensure you and your business are MTD prepared and fully compliant.
  • We’ll discuss with you the various options available in relation to MTD compatible software.
  • We will suggest APPS that can streamline many processes.
  • Along with our chosen software providers, we will provide guidance and training as necessary.
  • We’ll work with you to ensure you make the best use of the benefits of real time information when making business decisions.
  • We have designed a number of packages dependent on the level of assistance you will require – from simply setting you up, to fully outsourced bookkeeping and accounting.

Contact us to find out more. We’ll make sure the change to MTD ITSA is as simple as possible for you.

Hopefully we’ve piqued your interest?

We’re a really friendly bunch and would love to hear from you.

Get in touch to arrange a no obligation meeting and we can have a chat about your future needs.

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