Pavlina Bookkeeping & Tax Services

https://youtu.be/aOtYrE3qk6E?si=tY5of-6i4XjUhr1h

Massive Tax Changes Coming in 2026 - What You Must Do Now Run a small business and need some help with tax and accounts? ...

Many sole traders are still not aware that HMRC is changing how income Tax is reported.
Under MTD for Income Tax , self - employed individuals will be required to keep digital records and submit quarterly updates to HMRC, instead of one Self assessment return per year.

For many people this will mean moving form spreadsheets or paper records and using accounting software. Understanding what's changing and preparing early can help avoid unnecessary stress and last minute problems later on.

Are you self -employed or earning rental income?

Substantial changes are coming from April 2026.

HMRC is introducing Making Tax Digital (MTD) for income Tax Self-Assessment (ITSA).
From 6 April 2026: For individuals with qualifying income over £50,000from self-employment or property.
From 6 April 2027: For those with qualifying income over £30,000.

Under MTD, affected individuals will be required:
• Keep digital records.
• Use MTD -approved software.
• Submit quarterly reports to HMRC.
• File a final annual declaration.

https://www.gov.uk/guidance/check-if-youre-eligible-for-making-tax-digital-for-income-tax

MTD for Income Tax Self-Assessment (ITSA) е ново задължение, което HMRC въвежда за самонаети лица и хора, които имат доходи от наеми.

• Самонаети лица и/или собственици на имоти, които печелят над £50,000 годишно (от април 2026).
➔ Над £30,000 — от април 2027.
• Какво трябва да правят клиентите:
➔ Да водят своите счетоводни записи дигитално в одобрен софтуер.
➔ Да подават четири тримесечни отчета за доходи и разходи към HMRC.
➔ Да подават една финална годишна декларация (Final Declaration) вместо стандартната годишна Self-Assessment.
• Какъв е краен срок:
➔ Тримесечните отчети се подават през април, юли, октомври и януари.
➔ Финалната декларация е до 31 януари след края на данъчната година

Find out if and when you need to use Making Tax Digital for Income Tax Check if you need to use this service to report your self-employment and property income.

Welcome to Pavlina Bookkeeping

I am excited to launch this page and offer my services to small businesses and self-employed helping them stay financially organised and complaint

Bookkeeping
VAT Returns
Self-assessment
MTD (Making tax Digital) Compliance
Xero and QuickBooks set up and management