The future is now - HMRC Making Tax Digital is here
Making Tax Digital for Income Tax Self Assessment
What is it?
Will it affect you?
HMRC have modernised the tax system for sole traders and landlords, consigning paper and individual spreadsheets accounting to the history books.
Records must now be maintained in a digital accounting system, recognised by HMRC. A summary of income and expenses must be submitted electronically to HMRC every three months.
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From 6 April 2026: If you have a turnover from self employment or property of over £50000 have to
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register now if you haven't already done so.
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From 6 April 2027: This figure will drop to £30000
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From 6 April 2028: It will drop to £20000
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And it's turnover, not profit
What will you have to do?
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Digital Record Keeping: You now have to store records of all business transactions (income and expenses) digitally. Paper records or manually entered spreadsheets are no longer good enough.
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Quarterly Updates: Every three months, you or your agent must use your software to send a summary of your income and expenditures to HMRC.
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Final Declaration: You or your agent must submit a final declaration via your software by 31 January following the end of the tax year. This will be the total of all your earnings for the year less allowable deductions , and it replaces the Self Assessment tax return.
I am a QuickBooks online Advanced Pro Advisor and I Use an HMRC agent services account to manage my clients' digital tax submissions and Making Tax Digital requirements.
I can help you to be HMRC compliant.
Services
Dedicated accounting services to streamline your financial management, ensuring accuracy and accessibility from anywhere. Stay on top of your finances effortlessly.
Online Accounting
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Setting up online accounting
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Customised Chart of Accounts
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Automatic Bank Feeds
Payroll
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Registration as Employer
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HMRC compatible software
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Pension Auto Enrolment
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Recurring Pay Cycle reports
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Submissions to HMRC
Monthly Bookkeeping
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Posting transactions
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Reconciliation
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Closing entries
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Management Reports
Compliance
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VAT and MTD ITSA registration
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Quarterly Returns
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Submission to HMRC
Year end
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Preparation of Year End Accounts for Sole Traders and Partnerships
Your Dedicated Bookkeeping Partner
Clements Bookkeping is operated by an AAT licensed bookkeeper, dedicated to maintaining your financial integrity. This license guarantees compliance and professionalism, protecting your interests.
As a QuickBooks Online Advanced Pro Advisor, I offer guidance and insights to ensure your business thrives, especially in the era of HMRC's MTD. Let’s navigate your financial future together.
I use an HMRC Agents Services Account to manage my client's digital tax submissions and Making Tax Digital requirements with submissions usually made through the QuickBooks online system.
The face behind the numbers
Meet Greg Clements, the face behind Clements Bookkeeping.
He has an honours degree in Finance and Accounting.
Having worked for large multinational companies such as Ford, BMW and Siemens, he changed gear and ran his own small business for some twenty five years, for all of that time using the Quickbooks accounting system to manage the finances. This hands on experience of a digital accounting system was to prove invaluable in the running of the bookkeeping practice.
When he sold that business in 2018 he found that the inactivity of retirement was not for him, so he set up Clements Bookkeeping with the aim of helping small businesses to manage their finances.
He is now licensed as a bookkeeper by the Association of Accounting Technicians. and a QuickBooks online Advanced Pro Advisor .He uses an HMRC Agent Services Account to manage clients' digital tax submissions and Making Tax Digital (MTD) requirements.
As a client you would have direct access to Greg's professionalism at all times.
In her own words
With thanks to a valued client, Karen Boden of K&J's Hottub Retreats.
I Couldn’t recommend Greg enough!
Running a business can be stressful at times but having a bookkeeper who is efficient, knowledgeable and always at the end of the phone makes a huge difference. Everything is explained clearly and dealt with quickly and professionally.
Thank you for all your help (and patience) and ongoing support with K & J’s Holiday Retreats!
