The first quarterly submission deadline for those affected by Making Tax Digital (MTD) for Income Tax is 7th August 2026. This submission covers the period from 6th April to 5th July 2026. MTD currently affects sole traders and landlords with qualifying business or property income over £50,000, so if that sounds like you, now is the time to make sure you’re prepared. …
Are you a Sole Trader or do you have property rental income above £50,000 per year? From April 2026, you will need to change the way you file your Tax Returns under the new Making Tax Digital (MTD) rules. If this applies to you, you should have already received a letter from HMRC notifying you of the upcoming changes. Over the next week, we will also…
What you need to know before setting up your own business as a Sole Trader. We receive a number of questions from clients here at Ascentant. Here, Kevin Drew, Managing Director answers some of the common queries that new businesses ask before establishing a Sole Trader enterprise. Q – What taxes are due…