How To Get Your Business Ready For Making Tax Digital (MTD) #116

This week we break down Making Tax Digital (MTD) for income tax and explain what it means for six- and seven-figure business owners, landlords and the self-employed. Claire defines MTD, why HMRC is moving to digital records and quarterly updates, and how the change affects people with rental income or sole-trader/self-employed turnover. They cover who is in scope (personal rental income and self-employment turnover), the current and planned thresholds (50k in April 2026, falling to 30k then 20k in later years), what’s excluded (limited companies, salary/dividends, LLPs and most partnerships), and practical steps: using compatible software, record-keeping, and the likely impacts on cashflow and accountants’ processes. ⭐ Rate, Review & Share this episode with fellow business owners, and let's grow together! ⭐ Subscribe to the weekly newsletter to get Expert Advice Straight to Your Inbox: https://www.profitcashgrowth.com/subscribe ⭐ Get a Free copy of Claire's book Profit By Numbers: https://www.profitcashgrowth.com/book   VALUABLE RESOURCES Website LinkedIn YouTube Facebook ABOUT THE HOST: Claire Hancott through Profit Cash Growth helps 6 & 7 figure business owners to increase their profit, improve their cashflow and grow their business using their numbers. As a finance director & chartered management accountant, Claire has nearly 20 years’ experience in finance and running businesses of her own. This gives her a unique insight into the information and support business owners need to grow a financially successful business. Claire passionately believes that every business should be run by the numbers because the numbers in your business are telling you a story about what is and isn’t working and where your opportunities lie. Claire’s mission is to provide insightful management accounts, reports and advice to business owners and support them to make smarter decisions.    *The content of this podcast is for entertainment purposes only and does not constitute professional advice.