Big Changes for Sole Traders & Landlords: Is Your Tax Ready for a Digital Makeover?

Hey everyone—if you're a sole trader or landlord in the UK, there's an important update you need to know about.

The UK government is extending Making Tax Digital (MTD) to Income Tax Self Assessment (ITSA), and it will change how you manage and report your taxes going forward. You can read the full details here: gov.uk – MTD for Sole Traders and Landlords

What’s Changing?

Starting April 2026, if you earn over £50,000 from self-employment or property income, you’ll be required to: Keep digital records, send updates to HMRC every quarter, and use MTD-compatible software to file everything

From April 2027, this will also apply to those with an income over £30,000.

Why It Matters

This isn’t just a small change—it’s a full shift in how self-employed people and landlords handle taxes. It means more frequent updates, less paper, and a need for the right software.

If you're still using spreadsheets or paper files, now’s the time to start thinking ahead. These changes are mandatory and will be phased in soon.

How to Get Ready

Ask yourself:

• Are your financial records already digital?

• Do you have an MTD-compliant system in place?

• Do you need help choosing the right software or adjusting your current setup?

We're Here to Help

At FCBS, we support sole traders and landlords every step of the way. Whether you're just getting started or need help updating your systems, we’ll make the process simple and stress-free.

Want to Talk?

Don’t wait until the last minute. These changes are coming, but you don’t have to face them alone.

Message us today, and let’s get you set up before the deadlines hit.