The first quarter of Making Tax Digital (MTD) for Income Tax is now behind us and what a smooth start it has been! At Red Tulips we have just completed our initial MTD quarter using 123 Sheets and Excel, with our clients sending their information each month.
We know, however, that many sole traders, landlords and small‑business owners who are trying to manage MTD on their own are finding the transition a bit challenging. That is totally understandable, moving from an annual Self‑Assessment return to four cumulative quarterly updates plus a Final Declaration requires a new mindset, regular bookkeeping habits and the right digital tools. We can help.
All our MTD‑eligible clients submitted their first quarterly update on time,( In fact two weeks ahead of the deadline) so it means no penalty points ( In 2026/27 “soft landing” waives late‑filing penalties for quarterly updates this year).
The first quarter of Making Tax Digital has shown that, with the right tools and a little regular support, the transition from annual Self‑Assessment to quarterly reporting can be smooth and stress‑free. At Red Tulips we have proved that a simple spreadsheet‑based approach works and we are eager to help more clients achieve the same success.
If you’re finding MTD a bit tricky on your own, or you’d like to offload the quarterly submissions so you can focus on running your business, get in touch today. Let’s make your next MTD quarter just as smooth as the first.
Ready to simplify your MTD journey?
Call us: 01455 61992
Email: accounts@redtulips.co.uk
Red Tulips; Chartered Accountants – Helping you stay compliant, confident and in control
