Making Tax Digital
Making Tax Digital,
handled for you.
Our MTD support services, alongside our existing tax return services, let quarterly submissions be filed under the new HMRC rules.
- Registration, records and submissions, all handled
- Xero Gold Partners, so the software side is covered too
- We keep managing your year end, not just the quarterly filings
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Book a free consultation, and we’ll provide a personalised approach to your finances
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Quarterly, not once a year.
HMRC is introducing digital reporting requirements under Making Tax Digital. It affects a large number of self-employed people and landlords, as the system gradually replaces the current once-a-year self assessment tax return. Digital records have to be kept, and quarterly updates submitted during the year.
MTD is being phased in by income level, and the thresholds and start dates have been revised more than once. Ask us to confirm which stage applies to you before you plan around a date.
Our MTD services.
MTD registration
We register your business for MTD with HMRC.
Digital record setup
Moving you off spreadsheets or paper onto compliant digital systems.
Software setup and training
We are Gold Partners with Xero, and we train you on it.
Submissions
We prepare and submit your VAT returns and your quarterly filings.
We handle the quarterly filings, and still manage your year end.
What our support covers.
Four things, which between them cover the whole of what MTD asks of you.
- Help ensure your records meet HMRC’s digital requirements
- Review and submit the required quarterly updates to HMRC
- Continue managing your year-end tax position
- Be available if you need help with the new process
Reviews
What people say on Google.
Before Onyx we didn’t really have a clue where we stood from one day to the next. They helped us take financial control of the business — and gave us real insight into running it better.
Diligent, fast to respond, and they go the extra mile. They made us fully compliant and fixed errors I didn’t know were there. A very positive move from my previous accountants.
Eight years in, they still go well beyond compliance — strategic advice, quick answers, and a genuine eye on opportunities that benefit us.
Questions we get asked.
Do all self-employed individuals have to go digital?
No. MTD for Income Tax is being phased in by income level, so it depends on your gross income and which stage of the rollout you fall into. Ask us to check your position, because the thresholds and dates have been revised more than once.
Do I need a business bank account for MTD?
It is not a legal requirement for a sole trader, but it makes digital record keeping considerably easier and cheaper to run. Mixing business and personal transactions in one account is the main reason quarterly filings become painful.
Do I need an accountant for MTD?
Not strictly, but there are three reasons people use one.
- Complexity, because the rules require digital record keeping and quarterly submissions
- Penalties, because a points-based system applies with fines for missed deadlines
- Advice, because we can identify deductions and manage more complex income sources
Is accounting software necessary for MTD?
Yes. Records have to be kept digitally and submissions made through compatible software. Spreadsheets alone are not enough unless bridged by compatible software.
Contact us now for a free, no-obligation consultation.
No obligation, and a fixed written quote before you commit to anything.