What Is Making Tax Digital (MTD) for
Income Tax Self-Assessment (ITSA)?
Navigating Making Tax Digital for Income Tax Self-Assessment (ITSA) can be complex. At Cashtrak, we simplify the transition for sole traders and landlords, ensuring seamless compliance and peace of mind..
It's an HMRC initiative designed to modernise and streamline the way individuals report their income and pay taxes.
Starting from April 2026, sole traders and landlords with an income over £50,000 will need to keep digital records and submit quarterly updates to HMRC using MTD-compatible software.
This replaces the traditional annual tax return with a more frequent and transparent process, helping taxpayers stay on top of their obligations and reduce errors. At Cashtrak, we specialise in helping businesses and individuals transition smoothly to MTD, ensuring compliance while simplifying the process. Let us help you stay ahead of these changes with expert guidance and digital tools tailored to your needs.
Deadlines
From April 2026, self-employed individuals and landlords with an income above £50,000 will be required to follow the MTD for Income Tax Self-Assessment regulations.
From April 2027, self-employed individuals and landlords with an income above £30,000 will be required to follow the MTD for Income Tax Self-Assessment regulations.
Regulations
Digital Records: You must keep digital records of your income and expenses.
Quarterly Updates: Submit quarterly updates of your income and expenses to HMRC using compatible software.
Annual Tax Return: File your annual Self-Assessment tax return digitally.
Approved Software: Use software that meets HMRC's specifications for digital record-keeping and reporting.
Cashtrak's MTD For ITSA Service
At Cashtrak, we provide comprehensive and affordable MTD for ITSA services tailored to your unique requirements. Our expert team is here to guide you through every step, ensuring accurate record-keeping, timely submissions, and full compliance with HMRC regulations.
Having already successfully migrated numerous clients to MTD-compliant systems, we bring practical, hands-on experience to simplify your MTD journey. With Cashtrak, you’ll enjoy the benefits of our efficient digital solutions, personalised support, and extensive tax planning expertise. Our commitment to exceptional service means we handle the complexities of MTD for ITSA seamlessly, saving you both time and money.
Let us take the stress out of tax returns, so you can focus on growing your business. Our streamlined processes make our services not only cost-effective but also quicker, giving you peace of mind as we navigate the transition to MTD together.
Find out more information on HMRCs MTD for ITSA by clicking here.
The team at the recent ICB Bookkeepers Summit.
The team collaborating over client work.
What To Expect From Cashtrak
Many of our existing MTD for ITSA clients already enjoy the convenience of spreading costs with our monthly fee.
Spread the cost: Our monthly fee makes MTD for ITSA more manageable.
Free annual tax return: Get your annual MTD for Income Tax Self-Assessment return prepared at no extra cost.
Business expense: Our bookkeeping services can be claimed as a business expense, saving you money from the start. Self-Assessment tax returns is not a business expense and therefore can't be claimed.
Our personalised approach:
Tailored solutions: We'll discuss your budget, needs, and preferred level of involvement to create a customised plan.
Software expertise: We'll help you choose the right MTD-compatible software and provide training.
HMRC compliance: We'll handle quarterly updates and ensure you meet all HMRC requirements.
Year-end support: We'll assist with budget planning, tax savings, and advising on your tax liability.
All this included in one monthly fee! Let Cashtrak take the stress out of MTD for ITSA.
What Our ITSA Clients Say:
Katy Goldswain, owner, White Lime Interiors. www.whitelimeinteriors.com
"Carol has spent time on the phone, with both us and HMRC, written out lengthy emails to give us information and calls to explain things. Certainly above and beyond service. Thank you Carol, we are looking forward to being in a much more relaxed position with our HMRC friends! "
Ben Grey, Owner DG Coaching
"We highly recommend them to other small businesses and self employed people."
"I have been looking for someone to help with my accounts and tax for a while now. Over the last couple of years, I have spoken to a number of professionals who have all left me feeling confused and overwhelmed. Then I spoke to Cashtrak.
They not only have a wealth of knowledge, but can explain things really clearly & concisely so that I know exactly what to do & where I stand. They're patient & answer questions (even really obvious ones – and I feel that there have been many) quickly and expertly without ever being patronising."
Garry Newman, owner, Garry Newman Therapy Services