The Number Crunchers will guide you through it!
December 2025
This month we have been celebrating our Self-Employed Trades customers as they are going to be some of the first to be affected by the compulsory reporting under Making Tax Digital or MTD. It’s probably the last thing they need as they are all busy and hard-working enough! We feel your pain, we get you, so what’s it all about?
From April next year, if your self-employed income (or property rental income) is more than £50,000 then you will have to report your income and expenses quarterly to HMRC on a digital platform. For the year after, they will lower the threshold to £30,000 which will bring a whole lot more into the compulsory reporting and as always if you don’t do it, you will be fined, nice! You will still only file one self-assessment and pay your taxes in the same way, this is just on top.
So suddenly that shoe box or envelope in the front of the van ain’t gonna work for your accountant no more. That’s ok for us, DEXT is your new shoe box! Connect your bank, invoice customers on the go, snap your receipts everything you need to do (so we can report) but none of the hassle (we do the training).
HMRC have said that their MTD awareness letters are landing and apparently, it’s our job to get you ready, thanks again! But don’t worry builders, fixers, electricians, plumbers, plasterers, landscapers WE’VE GOT YOUR BACK. And if you’re a bit bigger and have a limited company, we got you too.
You don’t have to wait, you can do it now, that’s why we put the QR code on the ad
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