Self Assessment MTD – Making Tax Digital for Income Tax Self Assessment (ITSA)
Making Tax Digital (MTD) for Income Tax Self Assessment is fast approaching. Landlords with an annual business or property income of over £10,000 will have to submit quarterly records, plus a final submission, for a total of five submissions a year on a HMRC compatible software, so we recommend that you transition to a digital solution if you haven’t already done so.
These changes will be enforced from April 2024, but it is advised that you put a plan in place now for switching to digital accounting to ensure you are fully complaint with the new rules.
SFB can help you with choosing the right software for you, provide training, and help you recognise opportunities from these changes.
