Making Tax Digital: what do you need to submit your quarterly updates?

Making Tax Digital (MTD) for Income Tax requires more than simply submitting a report every quarter. If you are affected by the new rules, you must keep digital records of your business income and expenses and use HMRC-compatible software to submit your quarterly updates.

It is important to remember that quarterly updates do not replace your annual tax return. At the end of the tax year, you will still need to complete the final declaration to confirm your overall income, claim any reliefs, and calculate your final tax liability.

If you are unsure which software to use or need help preparing for Making Tax Digital, our team can guide you through the process and ensure you remain fully compliant with HMRC requirements.