MTD for ITSA is a new way for self-employed businesses & landlords to report earnings.

 

HMRC has advised that this will come into effect from 6 April 2023. Sole traders, partnerships & landlords with total business turnover and property income over £10,000 per year will have to comply with the new legislation from their first accounting period after this date.

 

 

From 6 April 2023, those falling within the criteria will need to:

  • sign up for MTD for ITSA on HMRC website
  • keep digital records
  • use MTD compatiable accounting software to report quarterly business income & expenditure
  • finalise the business's income in a declaration, confirming the records are correct

 

Registered bookkeepers and accountants with HMRC Agency status can easily submit income & expenditure for all their clients, leaving you to concentrate on running your business on a day-to-day basis, with no need to worry about deadlines with HMRC.