Keeping Tax and Accounts Simple Since 2017

Why does tax advice sound so complicated?

It’s because often it IS complicated.

But there are things we can do about it, join me and we’ll talk through it.

Filtering the background noise

Say you are a self assessment taxpayer looking for guidance on being tax compliant.

You are going to need simple ways to stay on front of your filing duties, tax bill payments and so on.

For example, let’s consider the new Making Tax Digital rules coming in next year.

Here’s the thing about Making Tax Digital: it genuinely involves several moving parts.

• New software
• Quarterly deadlines
• Digital record-keeping requirements

There’s a lot going on.

But there’s also good things about it; a quarterly filing gets you closer to your numbers!

What’s happening with Making Tax Digital?

Beings as we’re keeping it all simple like..

If you’re self-employed or a landlord with turnover of over £50,000 a year, from April 2026 you’ll need to:

• Keep your records digitally (not in a shoebox - just kidding! you’re better prepared than that right?)
• Send HMRC a summary four times a year instead of once
• Use software that talks to HMRC automatically

A Simple Answer Then - You now need to use a software package to report your tax return bits quarterly.

Simple as that.

But the devil is in the detail though, details like - “how do I actually do it?”

Good point - I’m glad you asked.

Here’s how we can help.

How to do MTD compliance

We share a “Checklist” method with you the client which, at any given time, puts the status of the “job” in our lap, or in your lap - with the next action known to both of us (e.g. TSG to review first quarter’s MTD submission)

It works well because you the client know what’s happening and what you need to do next, if anything… nothing hopefully - says you - just kidding!

Why the panic?

Every industry loves its jargon, and we in the taxation and accounts profession love it too.

We got “digital transformation”, we got “quarterly reporting obligations,” and have a bit of “MTD-compatible software solutions.”

It’s jolly japers for us at our accountant’s spelling bee mornings, but to a normal viewer some these terms can be vague, confusing or even scary.

Here’s what they actually mean

Instead of doing your tax return once a year in January, taxpayers update HMRC quarterly through an app or simple software.

A bit like online banking - you can see where you stand throughout the year instead of getting the balance at year-end.

The real challenge isn’t the technology - it’s the timing.

Many people are accustomed to leaving everything until January, then panic.

According to HMRC around one in 15 people waited until deadline day on 31/01/2025 to file their return.

Now don’t get me wrong, many of those filing returns will not be self employed or property owners with turnover of £50k+ and therefore not Making Tax Digital related.

But some will be and for them, waiting until deadline day will need to become a fond memory of the good old days once April 2026 comes along.

⏰ Last-Minute Reality Check

31,442 people filed their tax return in the final hour (11pm-midnight) on deadline day 2025.

Imagine filing calmly in April or May instead.

Although I would say there is an upside to all this - financial control.

Many self employed businesses run on the bank balance - “is there enough to pay the [name-the-expense] before the 18th of the month?”

Under MTD the business’s profitability will now become visible each quarter.

And as we know, what gets seen gets managed.

That also goes for the amount of tax accruing; it’s better to know where you stand tax-wise throughout the year, not just when it’s too late to plan for it.

📈 Better Tax Planning

Current way: Discover your tax bill in January when it’s too late to plan.

MTD way: Know your tax position every quarter throughout the year.

Planning beats panic every time.

Right! End of the quarterly reporting lecture, let’s talk software.

Making Tax Digital software

Here’s the thing about MTD software: you’ll probably be treated to offers of “feature-rich solutions” and have “comprehensive integration capabilities” proposals lavished upon you.

But remember this.

You just need something that works for how you actually run your business.

We rarely see a client that needs every bell and whistle.

What we think you need

• Something that talks to your bank (so transactions come in automatically)
• Software that sends the quarterly updates to HMRC without you thinking about it
• A system that shows you where you stand tax-wise throughout the year

What you don’t need

• Complex dashboards designed for multinational corporations
• Features for managing hundreds of employees when you work alone
• Expensive monthly subscriptions for functionality you’ll never touch

Here’s how we work with accounting software

We’ll look at how you actually work. Do you invoice clients? Manage rental properties? Track expenses on your phone? Buy stock for resale?

Then we’ll match you with software that fits your routine, not the other way around.

The setup process

We’ll help you get it set up properly, connect it to your bank accounts, and make sure the quarterly submissions work smoothly.

And when HMRC changes something (because they always do), we’ll figure out what it means for your specific setup and update your process accordingly.

Simple software choices

• Basic rental income? Simple app that tracks rent and expenses
• Straightforward self-employment? Mid-level software with invoicing
• Complex trading business? Full accounting package with stock management

We think it’s important to focus on what actually matters for your situation.

You’ll know exactly what you need to do and when, without getting buried in features you don’t need.

We take the software selection process - which could easily become another complicated decision - and make it simple and practical for your specific business.

Digital record-keeping requirements

Now, about those digital record-keeping requirements I mentioned.

Here’s what HMRC actually wants: your business records kept digitally and linked to your MTD software.

What this means in practice

Instead of shoving receipts in a drawer (we’ve all been there), you’ll need to get them into your software somehow.

But “digitally” doesn’t mean you need to become a tech wizard overnight.

Simple ways to go digital

• Take photos of receipts with your phone
• Use banking apps that categorise transactions automatically
• Scan important documents say, once a month
• Email receipts straight into your accounting software

What counts as “digital records”

• Photos of receipts stored in your software
• Bank statements downloaded as PDFs
• Invoices saved electronically
• Expense records tracked in an app

What doesn’t work anymore

• Carrier bags full of receipts (sorry!)
• Handwritten notebooks as your only record
• “I’ll remember what that £47 payment was for”

The digital records good news

Most people are already halfway digital anyway.

You probably take photos of receipts, use online banking, and get emailed invoices.

We’re just making sure everything connects to your MTD software properly.

How we help with digital records

We show you the simplest way to capture your records digitally. No complicated systems, no hours of data entry - just practical methods that fit how you actually work.

And when you inevitably find a receipt from six months ago that you forgot to record?

We’ll figure out the best way to get it into your system without drama.

That’s exactly what we do - take something that sounds complicated and show you it’s actually quite manageable once you know how.

The bottom line

Making Tax Digital involves genuine complexity - new systems, changed processes, technical requirements. But complex doesn’t have to mean confusing.

We take all that complexity and make it work simply for your situation. Clear explanations, practical steps, complete follow-through.

We don’t pretend tax is simple when it isn’t - we make complex tax simple to understand and manage.

Let’s keep it simple together.