07/08/2026
Happy MTD filing deadline! š
ā¦or perhaps not for everyone! š
From what Iāve seen recently there have been quite a few hiccups with HMRC connections, leading to plenty of unexpected (and completely unnecessary) error messages in the software used to submit MTD returns. Hopefully theyāre ironed out making the next quarter easier.
Iām nearly there myself. Just waiting on approval from my final 3 clients before this first quarter is put to bed, and I can then catch up on some sleep!
Some stats: around a third of my submissions have gone through using QuickBooks, with the remaining two thirds submitted using bridging software. While working through them, Iāve also been tweaking my spreadsheet template to include a bit more detail ready for my year end procedures.
As my friends over at Accountants Therapy would sayā¦ š
One other thing that may worry the untrained eye is the estimated 2026/27 tax liability that HMRC is now displaying.
DON'T PANIC!
At this stage, itās simply based on annualising the figures submitted for theMTD quarter. It doesnāt take into account capital allowances, other sources of income, personal allowances, tax reliefs, or the many other adjustments that can affect your final tax bill.
Remember too that any balancing payment for the 2026/27 tax year isnāt due until 31 January 2028, so thereās no need to lose sleep over the figure youāre seeing today.
If you are unsure what it means or whether itās realistic, get in touch with your accountant. It may simply be that the quarterly submission contains incorrect data, in which case it can be corrected and an updated submission sent to HMRC to replace it.
