MTD for ITSA Compliance & Reporting

Making Tax Digital for Income Tax (MTD for ITSA) represents one of the most significant changes to personal tax reporting in the UK in recent years. Under the new system, many landlords and sole traders will be required to maintain digital records and submit quarterly updates to HMRC throughout the tax year.

This change will replace the traditional once a year Self Assessment process for many taxpayers. Instead of submitting a single annual return, income and expenses must be reported digitally and updated regularly through approved software.

At Cooper Faure, we help clients prepare for these new reporting requirements and ensure that the necessary systems and processes are in place. Our role is to support clients in maintaining compliant digital records, reviewing financial data and submitting the required quarterly updates to HMRC.

At the end of the tax year, we also prepare the final declaration which consolidates the quarterly submissions and ensures that all relevant income sources are reported correctly.

By supporting clients through this transition, we help ensure that landlords and sole traders remain compliant while keeping their financial reporting clear and manageable.