Making Tax Digital Explained: Thresholds, Deadlines & What Small Businesses Need to Do

Here’s a search‑optimised title and description for your Making Tax Digital episode, fully aligned with the latest HMRC guidance and including the links you requested.🎙️ Episode TitleMaking Tax Digital Explained: Thresholds, Deadlines & What Small Businesses Need to Do✨ Episode DescriptionIn this episode of The Small Business Podcast for Small Businesses, Farley breaks down Making Tax Digital (MTD) for Liam in a clear, jargon‑free way—so you finally understand what’s changing, when it’s changing, and what you actually need to do as a small business owner.We cover:What Making Tax Digital really is and why HMRC is rolling it outWho must comply and when the rules apply to youThe new income thresholds:Over £50,000 → mandatory from 6 April 2026 Over £30,000 → mandatory from 6 April 202Over £20,000 → planned for 2028 (subject to legislation)What “digital record‑keeping” actually meansHow quarterly submissions workWhat software you’ll need—and the free option we recommendWhat happens if you don’t complyWhether you’re a sole trader, landlord, or running a small business, this episode gives you the practical steps to get ready without the overwhelm.🔗 Useful Links MentionedHMRC: Making Tax Digital Guidance https://www.gov.uk/guidance/find-out-if-and-when-you-need-to-use-making-tax-digital-for-income-tax 123 Sheets (Free MTD‑compatible bridging software) https://www.123sheets.comIf you want to stay ahead of the changes and avoid last‑minute stress, this episode is a must‑listen. Or drop in to Suffolk Creative Spaces (if your local) on the 26th March, or book some time with Farley to answer any questions you have and get yourself ready for the changes that are comming. breakoutservices.co.uk/book-an-appointmentSupport the show