Making Tax Digital (MTD ITSA)
Making Tax Digital: What Small Businesses Should Prepare For Making Tax Digital, often shortened to MTD, is changing how many sole traders and landlords report income and expenses to HMRC. The key point is this: MTD is not only about filing a tax return online. It requires digital records, compatible software and regular updates to
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Do Landlords and Sole Traders Need to Use Making Tax Digital from April 2026? Quick answer:Yes, but only if your qualifying self-employment and/or property income is over £50,000. If you are below that level, you may not need to join yet, but lower thresholds will apply in later years. From 6 April 2026, Making Tax
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What Happens If I Ignore Making Tax Digital?
March 3, 2026What Happens If I Ignore Making Tax Digital? (UK 2026 Guide) With Making Tax Digital (MTD) expanding, many sole traders and landlords are asking: What happens if I ignore Making Tax Digital? The short answer is: Ignoring Making Tax Digital when it applies to you can result in penalties, interest, and compliance action from HMRC.
Read MoreMTD for Income Tax: What to Expect Ahead of April 2026
February 22, 2026MTD for Income Tax: What to Expect Ahead of April 2026 After a long and frequently delayed gestation period, Making Tax Digital for Income Tax Self Assessment (MTD ITSA) is now scheduled to commence from 6 April 2026 for the first tranche of taxpayers. The changes are extensive and represent the most significant reform to
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How to Prepare for MTD ITSA and How Merranti Can Help
February 2, 2026Making Tax Digital for Income Tax: How to Prepare and How Merranti Can Help Making Tax Digital for Income Tax Self Assessment (MTD ITSA) is one of the most significant changes to the UK tax system in recent years. For sole traders and landlords, it marks a permanent shift away from annual reporting and towards
Read More Making Tax Digital for Income Tax from April 2026: What You Need to Know (and How to Get Ready) If you’re self-employed, rent out property, or do a bit of both, you’ve probably seen “MTD” mentioned a lot recently. In plain English, Making Tax Digital (MTD) for Income Tax is a major shift in how
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Do You Need a Separate Bank Account for Making Tax Digital (MTD)? As Making Tax Digital (MTD) continues to reshape the UK tax system, many sole traders, landlords and partnerships are asking an important practical question: Do I need a separate bank account to comply with MTD? With MTD for VAT already in place and
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Making Tax Digital for Income Tax: What Landlords and Sole Traders Must Do Before April 2026
December 12, 2025Making Tax Digital for Income Tax: What Landlords and Sole Traders Must Do Before April 2026 The UK tax system is entering a new era of digital compliance. From 6 April 2026, many landlords and sole traders will be required to keep digital records and send quarterly updates to HMRC under Making Tax Digital for
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What Landlords Earning Over £50,000 Need to Do Now
November 12, 2025MTD for ITSA: What Landlords Earning Over £50,000 Need to Do Now From April 2026, landlords earning over £50,000 per year in gross rental income will be legally required to follow Making Tax Digital for Income Tax Self Assessment (MTD for ITSA). This means big changes in how you keep records, report income, and interact
Read More What is the new points‑based penalty system under MTD?
October 19, 2025What is the new points‑based penalty system under MTD? As the UK tax system becomes more digital, so too do the penalties. In line with Making Tax Digital (MTD), HMRC has introduced a brand new points-based penalty system for late submissions and late payments — aimed at encouraging compliance while offering a fairer approach
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