With the first updates under the Making Tax Digital for Income Tax regulations now required to be sent to HMRC, Alexander Accountancy can support sole traders and landlords impacted to ensure they comply.
Since April sole traders and landlords earning more than £50,000 have had to keep digital records and send quarterly updates to HMRC, with the first update covering the first three months of the tax year due earlier this month.
The team at Alexander Accountancy, who specialise in helping local sole traders and landlords navigate these digital shifts, can support anyone who is behind on compliance.
HMRC reports that earlier this month more than 436,000 people successfully sent their first quarterly update for the 2026 to 2027 tax year. Anyone impacted who has not yet sent their first quarterly update can do so now, with no penalty for late updates this year, HMRC adds.
Chairman David Alexander says the Alexander Accountancy team will continue supporting clients with adapting to the new processes needed under the regulations, part of government plans to modernise the UK tax system.
David says: “The Making Tax Digital for Income Tax timeline for sole traders and landlords earning more than £50,000 is moving along, so we can help anyone who is unsure of how it impacts them to make sure they comply.
“The first quarterly update deadline has now passed yet we understand that some may not have the time to deal with these rules. Alexander Accountancy can offer a bespoke service.
Ensure compliance
“Software packages like Xero also allow you to scan documents and records or we can manage manual records.
“As well as ensuring you comply with the modern requirements there are positives for software users, such as live information on your finances and quarterly reporting helping you see your tax liabilities in advance.
“We have successfully helped a range of clients so they can focus on their businesses while remaining compliant with Making Tax Digital for Income Tax and will continue to do so as more sole traders and landlords are impacted.”
David adds: “From next April sole traders and landlords with a gross combined turnover of over £30,000 will be expected to comply with Making Tax Digital.
“The threshold drops to £20,000 from April 2028, so can support all clients impacted by these changes in the future.”
Alexander Accountancy provides services including tax planning, business advice, budgets and forecasting services, plus the preparation of company accounts.
The team supports new start-ups through to established small enterprises looking to scale up.
- For help with Making Tax Digital for Income Tax call 01283 743 851 or email: info@alexander-accountancy.co.uk
