Author: Wojciech
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Can I Use a Spreadsheet for Making Tax Digital (MTD)?
Yes, you can still use spreadsheets, BUT it is no longer as simple as just typing the numbers into the HMRC website. If you are self-employed, you might currently use a simple spreadsheet to track your income and expenses. Once a year, you probably just type the totals from that spreadsheet into the HMRC website…
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Why Did HMRC Ask Me for a Self Assessment?
If HMRC has asked you to complete a tax self assessment, it’s usually for a simple reason: they believe you have earned income that hasn’t been taxed automatically (like wages are). The most common reason is that you have registered as a self-employed sole trader or have become a landlord. What is a Tax Self…
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What is Hourly Rate for a Bookkeeper in UK
In the UK, the average hourly rate for a freelance bookkeeper in 2025 is typically between £25 and £40 per hour. This rate varies significantly based on the bookkeeper’s experience, qualifications (e.g., AAT or ICB certified), and location, with rates in London being considerably higher. Why Hourly Bookkeeping Rates Can Be Misleading While paying by…
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How Do I Set Up Making Tax Digital? (MTD Guide)
Making Tax Digital (MTD) is a government programme that changes the way individuals and businesses keep their records and submit tax information to HMRC. If you’re unsure how to get started, this article explains everything in simple terms. 1. How Do I Register for Making Tax Digital? To register for Making Tax Digital, you need…
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Do I Need to Use MTD
The short answer is: in most cases, yes. For VAT-registered businesses, MTD is already mandatory. For self-employed individuals and landlords, MTD for Income Tax becomes mandatory from April 2026 if your income is over £50,000, and from April 2027 if it’s over £30,000. If you’re a sole trader, landlord, or run a VAT-registered business, “Do…
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How Will Making Tax Digital Affect Me
Making Tax Digital (MTD) is one of the biggest shake-ups in the UK tax system in decades. It’s designed to make tax administration more efficient, but for many self-employed individuals and landlords, it also raises a simple but crucial question: “How will Making Tax Digital affect me?” If you’re unsure what MTD means for you,…
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self employed what counts as digital records for MTD
Making Tax Digital (MTD) is a government initiative by HMRC to make tax administration more efficient and easier for businesses and individuals. For self-employed individuals and landlords, MTD for Income Tax Self Assessment (ITSA) means a new way of keeping records and sending updates to HMRC. This guide will help you understand what counts as…
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Making Tax Digital accountant
The Indispensable Role of a Making Tax Digital Accountant UK tax system is undergoing a significant transformation with HMRC’s Making Tax Digital (MTD) initiative. This shift mandates that businesses and individuals maintain digital records and submit tax information using MTD-compatible software. While designed to simplify tax processes and reduce errors, navigating the complexities of MTD…
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Does My Tax Return Have to Be Digital
Yes, your tax return must be filed digitally if you are subject to Making Tax Digital (MTD). For all VAT-registered businesses, this is already mandatory. For self-employed individuals and landlords, MTD for Income Tax (requiring digital records and quarterly submissions) begins in April 2026 for incomes over £50,000 and in April 2027 for incomes over…
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Is Making Tax Digital Compulsory
Making Tax Digital (MTD) is HMRC’s plan to move all UK tax reporting online using special software. The answer to whether it’s compulsory depends on what type of tax you pay and your income level. Making Tax Digital for VAT – Already Compulsory Yes, MTD for VAT is compulsory for most businesses right now. MTD…