Making Tax Digital (MTD) represents one of the most significant changes to the UK tax system in recent years. HMRC introduced MTD to modernise tax reporting, improve accuracy, reduce errors, and simplify how individuals and businesses manage their tax affairs. However, many taxpayers still find the requirements complex and difficult to navigate.
Working with experienced Chartered Tax Advisers in Frimley helps you meet Making Tax Digital obligations correctly while minimising disruption to your finances.
What Is Making Tax Digital?
Making Tax Digital is an HMRC initiative that replaces manual tax reporting with digital record-keeping and online submissions. Under MTD, taxpayers must:
- Keep digital records of income and expenses
- Use compatible accounting software
- Submit updates to HMRC electronically
- Maintain ongoing compliance rather than relying on annual reporting alone
HMRC continues to introduce MTD in phases, with different requirements applying depending on individual circumstances.
Who Does Making Tax Digital Apply To?
Making Tax Digital currently applies to:
- VAT-registered businesses, regardless of turnover
- Individuals required to submit Self Assessment returns for certain income types (with further rollout planned)
Taxpayers affected by MTD for Income Tax must submit quarterly updates, an end-of-period statement, and a final declaration each year.
A professional accountant in Frimley can review your situation, confirm whether MTD applies to you, and ensure you prepare correctly.
The Impact on Personal Tax and Self Assessment
For individuals completing Self Assessment, Making Tax Digital shifts tax reporting away from an annual-only process. Instead, taxpayers must maintain digital records and submit information more frequently throughout the year.
Without proper support, this change can feel overwhelming. When managed correctly, however, MTD improves visibility over your personal tax position and reduces last-minute pressure.
At Maratax, we guide clients through these changes by implementing practical systems and clear processes.
Why Professional Accounting Support Matters
MTD compliance relies heavily on accurate accounting. Many taxpayers encounter issues such as:
- Using incompatible software
- Maintaining poor digital records
- Missing submission deadlines
- Misunderstanding reporting requirements
By working with Chartered Tax Advisers and accountants, you ensure accurate records, correctly configured software, and timely submissions.
Making Tax Digital and HMRC Compliance
MTD plays a central role in HMRC compliance. If you fail to meet digital requirements, HMRC may issue penalties, even when you calculate the tax correctly. Professional oversight reduces errors and ensures you meet all obligations to HM Revenue & Customs.
How Maratax Can Help with Making Tax Digital
As independent Chartered Tax Advisers and accountants in Frimley, Maratax offers comprehensive Making Tax Digital support, including:
- Assessing whether MTD applies to you
- Advising on suitable accounting software
- Setting up and reviewing digital records
- Managing ongoing submissions
- Providing personal tax and Self Assessment support
Our approach prioritises clarity, compliance, and long-term confidence.
If you are unsure how Making Tax Digital affects you, contact Maratax today for clear, professional advice from trusted Chartered Tax Advisers in Frimley.
