Making Tax Digital for Income Tax — We've Got You Covered
MTD for Income Tax is now mandatory for self-employed people and landlords earning over £50,000. GMC will handle everything — quarterly submissions, QuickBooks setup and your year-end declaration. Fixed monthly fee. No surprises.
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What is Making Tax Digital for Income Tax?
What is Making Tax Digital for Income Tax?
What is Making Tax Digital for Income Tax?
Making Tax Digital for Income Tax (MTD ITSA) is the biggest change to UK tax reporting in a generation. It replaces the traditional annual Self Assessment tax return with a new system of digital record-keeping and quarterly submissions to HMRC.
If you're self-employed, a sole trader or a landlord and your qualifying income exceeds the relevant threshold, you must comply. But don't worry — this is exactly what GMC is here for.
We'll set you up on HMRC-recognised software, manage your quarterly updates, and make sure your final declaration is filed correctly and on time, every time. You focus on running your business. We'll handle HMRC.
MTD Rollout - Who's Affected and When?
What is Making Tax Digital for Income Tax?
What is Making Tax Digital for Income Tax?
April 2026 - now live
Income over £50,000
Self-employed sole traders and landlords whose qualifying gross income exceeded £50,000 in their 2024/25 tax return must now comply. First quarterly update is due 7 August 2026.
April 2027
Income over £30,000
The requirement extends to those with qualifying income above £30,000. This includes a large portion of construction workers, tradespeople and part-time landlords.
April 2028
Income over £20,000
MTD will extend further to cover almost all self-employed individuals and landlords earning above £20,000. Start preparing now — not at the last minute.
How MTD changes the way you Report to HMRC
MTD doesn't change how much tax you pay — it changes how and how often you report. Here's what's different.
Digital Record Keeping
Digital Record Keeping
Digital Record Keeping
You must keep digital records of all income and expenses using HMRC-recognised software. Paper records alone are no longer sufficient.
Quarterly Updates
Digital Record Keeping
Digital Record Keeping
Instead of one annual tax return, you'll submit four quarterly updates a year, giving HMRC a running picture of your income and expenses.
Final Declaration
Digital Record Keeping
New Penalty Regime
At the end of the tax year you'll complete a Final Declaration (replacing the old SA100 return), confirming your total income and claiming any reliefs.
New Penalty Regime
Digital Record Keeping
New Penalty Regime
Missing quarterly submissions earns penalty points. Once you hit the threshold, a £200 fine applies — and grows with each further missed filing.
What GMC does for you under MTD
We take care of every element of your MTD obligations, so you don't have to learn a new system, worry about deadlines or deal with HMRC correspondence yourself.
✓ QuickBooks setup and training — we get you set up on QuickBooks Online, HMRC's recognised MTD-compatible software, included in your package at no extra cost.
✓ HMRC MTD registration — we register you with HMRC for MTD and link your software to your tax records.
✓ Quarterly updates — we prepare and submit all four quarterly income and expense summaries to HMRC on your behalf, on time, every time.
✓ Year-end Final Declaration — we prepare your Final Declaration, claim all reliefs and allowances you're entitled to, and file it before the 31 January deadline.
✓ HMRC correspondence — if HMRC sends letters or makes enquiries, we deal with them on your behalf.
✓ Tax planning advice — we'll advise you throughout the year on maximising your tax efficiency, not just at the filing deadline.
✓ Unlimited support — call or email your dedicated accountant whenever you have a question. No extra charge.
Sole Trader MTD Package
From £70 per month - fixed fee
✓ QuickBooks Online included
✓ Dedicated accountant
✓ MTD quarterly submissions (×4 per year)
✓ Year-end Final Declaration
✓ Annual business accounts
✓ Quarterly VAT returns (if VAT-registered)
✓ HMRC correspondence handled
✓ Tax planning advice
✓ Unlimited phone and email support
✓ Same day response guarantee
Why GMC uses QuickBooks for MTD
As a QuickBooks Certified ProAdvisor, GMC includes QuickBooks Online in all packages — the same HMRC-recognised software used by thousands of sole traders and businesses across the UK.
ICAEW HMRC-Recognised
Access Anywhere, Anytime
Access Anywhere, Anytime
QuickBooks is fully approved by HMRC for MTD submissions. No bridging software needed — your records go directly from QuickBooks to HMRC.
Access Anywhere, Anytime
Access Anywhere, Anytime
Access Anywhere, Anytime
Cloud-based and mobile-friendly, QuickBooks lets you record income and expenses wherever you are — on site, at home or on the go.
Included In Your Package
Access Anywhere, Anytime
Included In Your Package
We include your QuickBooks subscription at no extra charge. There are no hidden costs — everything is covered under your fixed monthly fee.
Am I affected by MTD for Income Tax?
You're affected if your qualifying gross income from self-employment and/or property exceeds £50,000 (from April 2026), £30,000 (from April 2027) or £20,000 (from April 2028). Employment income, dividends and pension income do not count towards these thresholds.
Does MTD mean I have to file four tax returns a year?
No. Quarterly updates are brief income and expense summaries — not full tax returns. Your actual tax position is confirmed at the year end in a single Final Declaration. GMC handles all of this for you.
What if I'm already a GMC client?
If you're already with us and fall within the MTD thresholds, we'll contact you directly to get you set up and registered. There's nothing complicated for you to do — just let us know and we'll take it from there.
What if I miss a quarterly submission?
Missing a submission earns a penalty point. Once enough points accumulate, HMRC charges a £200 fine. With GMC managing your submissions, you'll never need to worry about missing a deadline.
Can I switch to GMC from my current accountant?
Absolutely — and it's straightforward. We make the switch as smooth as possible and, unlike many firms, we don't charge a catch-up fee if you join us part-way through the year.
Frequently asked questions about MTD
Still not sure? Here are the questions we hear most often from sole traders and landlords in East London.
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