Making Tax Digital Filing, Done For You
HMRC rules have changed. If you're self-employed or a landlord, Making Tax Digital means you must keep digital records and send quarterly updates to HMRC. We provide the MTD software, handle all your filings, and give you a dedicated manager to keep you 100% compliant — for one simple fixed monthly fee.
What Is Making Tax Digital (MTD)?
Making Tax Digital (MTD) is the new HMRC system that requires self-employed individuals and landlords to keep digital records and submit quarterly tax updates using MTD-compatible software. If you're self-employed or a landlord, MTD for Income Tax affects how you report to HMRC from now on.
Under the new rules, the traditional yearly tax return is being replaced with a fully digital process designed to improve accuracy and simplify tax reporting. Instead of filing once a year, you must keep digital income and expense records, use approved MTD software, send quarterly updates to HMRC, and complete a final year-end declaration.
At Financial247, we handle the entire MTD process for you — software, bookkeeping, quarterly submissions, and ongoing support from a dedicated manager — all for one simple fixed monthly fee of £49.
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Making Tax Digital is a major shift in how HMRC collects tax. The old "once-a-year" paper or online tax return is being phased out. Under MTD, if you are self-employed or a landlord with income over a certain limit, you are legally required to:
Keep digital records of all your income and expenses.
Use MTD-compatible software (spreadsheets alone are no longer enough).
Send 4 "Quarterly Updates" to HMRC throughout the year.
Submit a Final Declaration at the end of the year to settle your tax.
Our service handles all of this for you in one package.
The rules are based on your gross income (total turnover before expenses), not your profit.
From April 2026: You must enroll if your combined self-employed and rental income was over £50,000 in the 2024/25 tax year.
From April 2027: The threshold drops to £30,000 based on your 2025/26 records.
Important: If you are a CIS subcontractor, it is your gross pay (before the 20% or 30% deduction) that counts toward this threshold.
The old "one-year" deadline is gone. You now have 5 mandatory deadlines per year. Your quarterly updates are due by the 7th of the month following the end of the quarter:
Quarter 1 (Apr-Jun): Due 7th August
Quarter 2 (Jul-Sep): Due 7th November
Quarter 3 (Oct-Dec): Due 7th February
Quarter 4 (Jan-Mar): Due 7th May
Final Declaration: Due 31st January (the following year)
Our All-In-One service manages all 5 of these deadlines for you so you never face a late-filing penalty.
No. HMRC no longer accepts manual spreadsheets or paper ledgers as "digital records." To be compliant, your records must be kept in MTD-compatible software that can "talk" directly to HMRC’s systems via an API. Our £49 package includes this software, and we handle the technical link-up for you.
In the old system, an accountant worked for you once a year. Under MTD, we are working for you every single month. We provide your software, manage your digital bookkeeping, and file five separate reports to HMRC each year (4 quarters + 1 final). Spreading the cost into a fixed monthly fee means no massive surprise bills in January and constant support all year round.
It means you can stop worrying about lost receipts and messy spreadsheets. You simply snap a photo of your receipts or link your bank account to the software we provide. Our experts then review and categorize those transactions for you. We ensure you are claiming every possible relief (like tools, travel, or property repairs) so you don't pay a penny more in tax than you have to.
The good news is that MTD makes your refund process much more transparent. Because we report your income and CIS deductions every three months, we have a "live" view of your tax position. When the tax year ends, we don't have to start from scratch. We can finalize your claim and submit it to HMRC immediately, often resulting in a faster refund than the old annual system.
Yes. We provide modern, HMRC-compatible software that works on your phone. You don't need to be a tech expert. We set it up for you, show you how to use it, and because we have Direct Access to your data, we can fix any mistakes in the background. If you get stuck, you just call your dedicated manager who speaks your language.
You may need to file a tax return if any of the following apply to you:
Income-Based Criteria:
- Your total taxable income is over £150,000 (from April 2023).
- You are self-employed and earned more than £1,000 before expenses.
- You are a partner in a business partnership.
- You receive income from dividends, investments, or savings over £10,000.
- You made taxable capital gains above the annual allowance (£6,000 for 2023/24).
Employment & Director Status:
- You are a company director, and your income isn’t taxed solely through PAYE.
- You or your partner claim Child Benefit, and your income is over £50,000 (High Income Child Benefit Charge).
- You have untaxed income from tips, commission, or freelancing.
Property & Rental Income:
- You earn rental income from a UK property exceeding £2,500 after expenses.
- You receive rental income from overseas property.
Foreign & Residency Status:
- You have foreign income that’s taxable in the UK.
- You are a UK tax resident but earn income abroad.
- You are a non-resident with UK taxable income (e.g., rental property).
Other Situations:
- You received COVID-19 grants (SEISS grants) and were required to report them.
- HMRC sent you a notice to file a tax return (even if your income is below the threshold).
- You want to claim tax relief on work expenses over £2,500.
- You need to prove your income for a mortgage or visa application.
