Get Ready for Making Tax Digital

To help you prepare for Making Tax Digital, our team will be hosting drop-in sessions on Wednesday, 18 November. We are pleased to invite you to a free 30-minute one-to-one Making Tax Digital for Income Tax Self Assessment (MTD for IT) guidance session on Wednesday 18 November at our Attleborough office. This is an opportunity to discuss how the upcoming changes to MTD for IT may affect you, ask any questions you have, and receive practical advice from one of our specialists on the steps you should be taking now. MTD for IT is being introduced by HM Revenue & Customs (HMRC) in phases as part of its ongoing programme to digitise the UK tax system. This represents a significant change to the way self-employed individuals and landlords keep records and report their income. • From 6 April 2027, self-employed individuals and landlords with annual combined business or property income (before deduction of expenses) of more than £30,000 will be required to comply with the new MTD rules. Following a review of your most recent tax return, your combined income may exceed £30,000 in the year ended 5 April 2026, which means you might need to comply with the new MTD rules from April 2027. This change will significantly impact how you keep records and report income, with digital record-keeping and quarterly updates through HMRC-approved software throughout the year. There will be a final declaration after the year end, which is the equivalent of the annual personal tax return. As with your current personal tax return, we will handle the final declaration on your behalf. The final declaration deals with any tax and accounting adjustments required and consolidates all your sources of income to calculate your income tax position. The deadline for the final declaration is still 31 January. You are invited: Free MTD guidance event – Wednesday 18 November To help you get ready for the changes, we are offering free 30-minute one-to-one sessions with our team on Wednesday 18 November at our Attleborough office. These sessions are by appointment only, so please be sure to book your slot in advance to secure time with one of our experts. Appointments are available between 9:00am and 3:30pm. This is a great opportunity to: • Talk through your specific MTD requirements; • Understand how the changes will affect you; and • Get clear, practical advice on your next steps. Whether you have already started preparing or you are not sure where to begin, the M+A Partners’ team is here to guide you through it.