And that includes MTD! Making Tax Digital is the new major government initiative for more regular reporting of income and expenses for self-employed individuals and landlords. This change impacts anyone who’s self-employed and/or rental income exceeded £50,000 for the 2024/25 tax year. Instead of sending a Self-Assessment tax return to HMRC once a year, if affected you will have to submit four quarterly updates about your business income and expenses along with an end of year final declaration. BUT… don’t panic! 😱 If you are affected by this change we will contact you over the coming weeks to advise you on what to do next. 😅 All of this will be actioned prior to the first quarterly submission for the 2026/27 tax year that is due by 5th August 2026. And if you’re not one of our clients, get in touch with your accountant for any updates or call us for help. #MakingTaxDigital #EssexAccountant #KcaAccountants