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Making Tax Digital for Income Tax is one of the biggest changes to the UK tax system in recent years. From April 2026, many self-employed individuals and landlords will need to keep digital records and submit quarterly updates to HM Revenue & Customs instead of relying solely on an annual Self Assessment return. In this comprehensive guide, we explain who will need to comply, when the rules come into effect, what the income thresholds are, and how quarterly reporting will work in practice. We also cover key questions about software, digital record-keeping, penalties, and how the changes may affect small businesses, contractors, and landlords. Whether you are already using accounting software or still relying on spreadsheets or paper records, this article will help you understand what MTD means for your business and how to prepare well in advance of the new rules.
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The routine services you would expect us to provide are listed below but it’s the important ongoing professional advice that really helps our clients.
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Running your own business is exciting, but it comes with questions, responsibilities, and decisions that can feel overwhelming. From registration and taxes to liability and record keeping, there’s a lot to consider. This Mega Guide for Sole Traders brings everything together in one place. Each section is designed to give clear, actionable advice for both new and established sole traders. Whether you’re thinking of starting your first business or planning to grow, this guide will help you make informed decisions and stay compliant with HMRC and UK law.
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Choosing the right business structure is one of the first big decisions every entrepreneur faces. Your choice affects taxes, liability, and how your business is perceived. Many clients ask me: “Should I stay a sole trader, or form a limited company?” The answer isn’t one-size-fits-all — it depends on your income, risk, and growth plans. Let’s break it down.
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One of the biggest challenges for new sole traders isn’t finding clients — it’s staying organised. Accurate records and timely accounts are essential for HMRC compliance, smooth tax filing, and understanding your business’s financial health. In this guide, we’ll cover: how long to keep records; what accounts you need to file; choosing the right accounting software. By the end, you’ll know exactly what’s required — and how to simplify the process.
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Running a business comes with responsibility. As a sole trader, you’re personally liable for your actions, so getting the right insurance and staying compliant with HMRC rules is crucial. In this guide, we’ll explain: essential insurance policies for sole traders; VAT registration rules; compliance tips to keep your business safe
We are experienced certified accountants in Kent that are committed to helping small businesses achieve growth.
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