Author: Wojciech
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How to choose a digital accountant for Making Tax Digital compliance?
If you want to know how to choose a digital accountant for Making Tax Digital compliance, here is the exact checklist you need: Why is Making Tax Digital Happening? If you are self-employed in the UK, you have probably heard the rumblings about Making Tax Digital for Income Tax Self Assessment (ITSA). The days of…
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Can I share my Government Gateway ID?
You must never share your Government Gateway user ID and password with anyone. This includes your accountant, tax agent, business partner, or family members. Handing over your login details goes against HMRC rules and puts your personal data at serious risk. When you are self-employed in the UK, you already juggle a million different tasks.…
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MTD first submission date?
The very first submission deadline for Making Tax Digital (MTD) for Income Tax is 7 August 2026. Here is a simple breakdown of what this means for you and your business. Making Tax Digital Has Arrived: What You Need to Know If you are self-employed or a landlord in the UK, the way you report…
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Is Making Tax Digital the same as self-assessment?
Making Tax Digital (MTD) is not the same as Self-Assessment. Instead, Making Tax Digital is the new, upgraded system that is replacing the traditional annual Self-Assessment tax return for many UK sole traders and landlords. While the actual tax rules and how much you owe remain exactly the same, MTD completely changes how and when…
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Do you have to pay for Making Tax Digital software?
No, you do not have to pay for Making Tax Digital (MTD) software. While there are plenty of paid options on the market, there are genuinely free ways to meet HMRC’s new rules without adding another monthly bill to your self-employed business expenses. If you are a sole trader, freelancer, or landlord in the UK,…
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Is MTD replacing self-assessment?
Making Tax Digital (MTD) is effectively replacing the traditional annual Self-Assessment tax return as you know it. If you are self-employed in the UK or earn money as a landlord, the days of scrambling to fill out one big tax return every January are coming to an end. It is completely understandable to feel overwhelmed…
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Do all self-employed have to go digital?
Not all self-employed people have to go digital right now. Whether you need to make the switch to digital tax reporting depends entirely on your total yearly income. If you are a sole trader or a landlord in the UK, you have likely heard the term “Making Tax Digital” (or MTD). Change can feel daunting,…
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Can you opt out of Making Tax Digital?
No, you cannot simply choose to opt out of Making Tax Digital (MTD) just because you prefer the old paper system. If your earnings are above the government’s threshold, MTD is a legal requirement. However, you can apply for an official exemption if it is genuinely impossible or unreasonable for you to use computers or…
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Do I need to report gifts to HMRC?
The short answer is no. Generally, you do not need to report gifts to HMRC when you give or receive them. There is no immediate “gift tax” in the UK. However, while you don’t have to fill out a tax return or call HMRC just because you gave your child a lump sum of money,…
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What will accountants charge for MTD?
If you want a comprehensive service where your accountant handles the entire Making Tax Digital (MTD) process for you, expect to pay between £60 and £100 per month. The End of the Once-a-Year Tax Bill If you are self-employed in the UK, you might be used to handing over a shoebox of receipts or a…