From April 2026, sole traders and Landlords will need to start filing Tax Returns every 3 months!
The way you report your income to HMRC is about to undergo its biggest change in decades. At My Tax Helper, we want to ensure all our clients are ahead of the curve. While change can feel daunting, being prepared now will save you stress and potential penalties later.
Here is everything you need to know about Making Tax Digital for Income Tax Self Assessment (MTD for ITSA) and how to get ready.
Currently, most self-employed individuals and landlords file a single Self Assessment tax return once a year. Under MTD, this paper-based or manual process is being replaced by a digital system.
You will be required to:
Keep digital records of all your business income and expenses.
Send quarterly updates of your business income and expenses to HMRC using MTD-compatible software.
Finalize your business income at the end of the tax year with a Final Declaration.
MTD for ITSA is being rolled out in stages based on your gross income:
April 2026: Self-employed individuals and landlords with an annual business or property income over £50,000.
April 2027: Those with an annual business or property income over £30,000.
Note: The government is still reviewing how MTD will apply to those earning under £30,000 and to general partnerships.
You can no longer rely on paper ledgers. You need “functional compatible software” that communicates directly with HMRC. Digital systems allow for a much more accurate and real-time view of your finances.
If you have not already, open a separate business bank account. MTD requires digital record-keeping. Having your personal shopping mixed with business expenses makes digital bookkeeping significantly harder.
Under MTD, you have to submit data every three months. You can no longer wait until January to organize your finances. We recommend setting aside time at the end of every month to ensure your digital records are up to date.
You do not have to navigate this alone. As your tax partners, we are here to:
Help you transition to a digital system.
Set up digital links to ensure your data flows correctly.
Manage your quarterly submissions to ensure they are accurate and timely.
HMRC will use a points-based penalty system for late submissions and late payments. While there is a “soft landing” period to help taxpayers adjust, it is vital to have your systems in place before the 2026 deadline.
MTD for Income Tax is a significant shift, but it is also an opportunity to modernize. Real-time digital records give you better insights into your cash flow and profitability.
To make this transition as seamless as possible, My Tax Helper has officially partnered with QuickBooks, one of the world’s leading MTD-compatible accounting platforms.
Through this partnership, we are able to offer our clients an exclusive discount on QuickBooks subscriptions. By using our dedicated registration link, you can access powerful tools that automate your record-keeping, categorize your expenses, and prepare your quarterly updates with a few clicks.
Click the link bleow to claim your discount and start your digital journey today.
Are you ready for the switch? Contact the team at My Tax Helper today. We can review your current setup and use our QuickBooks partnership to get you compliant for less.
QuickBooks keeps everything in place, so always have what you need when you need it.
Sync with your bank and favourite apps, so your books are accurate and up to date.
Claim every entitlement at tax time with your expense receipts stored and sorted in QuickBooks.
Speed up invoicing and grow your cash flow. You’ve done the work, let QB get you paid.
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