MTD for Income Tax and Basis Periods

Time is running out to prepare for MTD for Income Tax (MTD IT). What’s more, basis period reform is far from over. Find out all you need to know about both with our Special Report “MTD for Income Tax and Basis Periods: All the tricky issues explained”. 

If you’re a sole trader or landlord our Special Report explains what you can expect from MTD IT. It includes in-depth insights, practical strategies and easy-to-follow examples. It also considers potential problem areas, such as the new penalty regime, quarterly and end-of-year reporting requirements and interaction with cash and accruals accounting. 

In Detail:

• Business impact - MTD IT applies to sole traders and partnerships with a turnover of £50,000 or more from April 2026 and most businesses by April 2028. Adapt seamlessly to new digital reporting requirements
• Joining MTD IT: Pros and cons of signing up to the pilot now or waiting until the deadline
• Record keeping: Meeting HMRC’s standard for the “digital journey”
• Reporting deadlines: What are they and what are the consequences of missing them?
• Tax liabilities: How income tax will be worked out under MTD IT
• Software: Make sure that your software is MTD IT compatible and what steps to take if it isn’t
• Accounting periods: How your choice of accounting period will affect your MTD ITSA reporting
• Basis period transition tool: Use this calculator to check tax efficiency for 2023/24 before the self-assessment amendment window closes in January 2026
• Profit spreading: Use the basis period transition tool to help you maximise tax efficiency and for transitional profit spreading. Make “what if” calculations quickly and easily

Buy your copy now and navigate the new digital tax landscape with confidence.