Tag: Making Tax Digital
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MTD Is a Pain — But It Might Fix the Habit That’s Actually Hurting You
Making Tax Digital for Income Tax has been live since April 2026 for sole traders and landlords earning over £50,000, and from April 2027 that threshold drops to £30,000, pulling in roughly 970,000 more people. Most of the commentary on this has been about compliance burden and software costs, and fair enough — it is…
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The Sunday Rundown: 30 August 2026
Borrowing is getting more expensive just as the Budget clock starts ticking, your energy bill forecast is now official, half the country’s sole traders missed their first tax deadline, and youth unemployment is closing in on a million. Here’s what mattered this week — and what to do about it. 1. Borrowing just got pricier,…
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Growth talk is cheap while compliance costs £25bn a year
The government wants to talk about growth. Business Mentoring Councils, apprenticeship funding, rate cuts for pubs — all announced with the same message: we’re backing small business. Meanwhile, the Federation of Small Businesses has put a number on the thing quietly working against all of it: tax compliance now costs the average small business owner…
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What tax compliance really costs your business — and where the time and money goes
If tax admin feels like it’s eating more of your week than it used to, you’re not imagining it. According to the Federation of Small Businesses (FSB), the average UK small business now spends £4,500 and 44 hours a year just staying compliant with the tax system — up around 10% since 2021. Multiplied across…
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Half of Sole Traders Missed the First MTD Deadline. That’s Not a Taxpayer Problem.
Nearly half of the taxpayers required to file under Making Tax Digital for Income Tax missed their first deadline. Azets found that of 864,000 people eligible, only 436,000 filed on time. When a new system trips up that many people at the first hurdle, the fault sits with the system, not the sole traders and…