SAGE ADVICE MTD WORKLOAD ESTIMATOR
Across a given 12-month period, we estimate you may need to help clients prepare the following reports or submissions as part of the Making Tax Digital requirements
(VAT and income tax/Self Assessment):
OUTPUT:
This might sound a lot, but software will let you automate workflows for many reports and submissions, and will enable greater collaboration across your practice and client base.
It will ensure your clients have the ability to be compliant within the scope of MTD.
Click a year to predict how your workload will change
2024
2022
VAT
ITSA
TOTAL:
{{total}} reports or submissions for MTD within a 12-month period.
Not yet mandated (voluntary sign-up for pilot scheme is possible).
At least {{total}} reports or submissions for MTD within a 12-month period.
As of April 2024 when MTD for Income Tax Self Assessment (MTD for ITSA) is mandated for sole traders and landlords with incomes above £10,000:
As of April 2022 when VAT for voluntary registrants is mandated:
{{vat}} VAT Returns
(assuming quarterly return periods).
TOTAL:
ITSA
VAT
{{quarterly}} quarterly reports for ITSA
(potentially more because quarterly updates are a minimum; some clients may wish to submit more frequent updates.)
{{period}} end of period statement (EOPS)
at least, and likely more if clients have multiple businesses.
{{final}} final declarations
Open notes
Individual MTD for ITSA EOPS must be prepared for each of a client’s business and landlord income, so clients may need to submit multiple EOPS.
EOPS:
Depending on the digital start date for each sole trader/landlord, some may start MTD for ITSA after 6 April 2024 depending on their accounting period. For example, a business with a March year end might not have a first reporting deadline until 30 July 2025. A similar proviso applies to general partnerships as of 6 April 2025 when they are mandated.
Digital start dates:
It’s likely the submission of quarterly reports will be largely automated via accounting software, and there’s no legal requirement to be accurate in these submissions. But clients may still ask for help making adjustments, for example, in order to get an accurate estimate of their tax position.
Quarterly reports:
Each client registered for MTD for ITSA will need to complete a single final declaration by 31 January each year.
Final declaration:
It’s not yet known if all types of incorporated businesses will be required to sign-up for MTD for CT as of the April 2026 earliest start date.
Corporation tax sign-up:
The pilot scheme for voluntary sign-up for MTD for Corporation Tax is currently scheduled to begin in 2024.
Corporation tax pilot scheme:
Individual MTD for ITSA EOPS must be prepared for each of a client’s business and landlord income, so clients may need to submit multiple EOPS.
EOPS:
All sole traders within scope of MTD for ITSA have to follow its rules as of 6 April 2024. Basis period reforms across the 2023/24 tax year will force unincorporated entities with trading income to align their basis period with the tax year, preparing the way for MTD for ITSA's start.
Digital start dates:
It’s likely the submission of quarterly reports will be largely automated via accounting software, and there’s no legal requirement to be accurate in these submissions. But clients may still ask for help making adjustments, for example, in order to get an accurate estimate of their tax position.
Quarterly reports:
Each client registered for MTD for ITSA will need to complete a single final declaration by 31 January each year.
Final declaration:
For each business: At least quarterly updates with a summary of business income and expenses.
Maintain digital records of all business income and expenses.
Requirements:
April 2024 for sole traders and landlords. April 2025 for general partnerships. Pilot programme open now.
Mandation:
Small unincorporated businesses (the self-employed) and/or landlords with annual business
or property income above £10,000 (gross). General partnerships (as defined by the Partnership Act 1890) with turnover above £10,000 per year and that have only individuals as partners.
Scope:
Making Tax Digital for Income Tax Self Assessment
For each individual: Create final declaration, bringing together all data including business and non-business to finalise tax position and final tax liability.
For each business: Create end of period statement (EOPS) by the end of the tax year finalising the taxable profit and loss for the business, making adjustments.
Update HMRC periodically (e.g. quarterly) with VAT returns via functionally compatible software, with digital links to the transactions.
Maintain digital VAT records of income and expenses.
Requirements:
April 2022 for all VAT registrants, although businesses can of course sign-up before then.
Mandation:
All VAT registered businesses including those below the VAT threshold who have voluntarily signed up to VAT but not yet signed-up to MTD for VAT.
Scope:
Making Tax Digital for VAT (as of April 2022)
Download MTD: A Practice Survival Guide eBook
As of April 2022 when VAT for voluntary registrants is mandated:
{{vat}} VAT Returns
(assuming quarterly return periods).
click to learn more
click to learn more
click to learn more
2025
VAT
click to learn more
As of April 2022 when VAT for voluntary registrants is mandated:
{{vat}} VAT Returns
(assuming quarterly return periods).
ITSA
click to learn more
As of April 2025 when MTD for Income Tax Self Assessment (MTD for ITSA) is also mandated for general partnerships that have income above £10,000:
{{quarterly}} quarterly reports for ITSA
(potentially more because quarterly updates are a minimum;
some clients may wish to submit more frequent updates.)
{{period}} end of period statement (EOPS)
at least, and likely more if clients have multiple businesses.
{{final}} final declarations
TOTAL:
Open notes
At least {{total}} reports or submissions for MTD within a 12-month period.
click to learn more
MTD for:
MTD for:
MTD for:
Update HMRC periodically (e.g. quarterly) with VAT returns via functionally compatible software, with digital links to the transactions.
Maintain digital VAT records of income and expenses.
Requirements:
April 2022 for all VAT registrants, although businesses can of course sign-up before then.
Mandation:
All VAT registered businesses including those below the VAT threshold who have voluntarily signed up to VAT but not yet signed-up to MTD for VAT.
Scope:
Making Tax Digital for VAT (as of April 2022)
For each individual: Create final declaration, bringing together all data including business and non-business to finalise tax position and final tax liability.
For each business: Create end of period statement (EOPS) by the end of the tax year finalising the taxable profit and loss for the business, making adjustments.
For each business: At least quarterly updates with a summary of business income and expenses.
Maintain digital records of all business income and expenses.
Requirements:
April 2024 for sole traders and landlords. April 2025 for general partnerships. Pilot programme open now.
Mandation:
Small unincorporated businesses (the self-employed) and/or landlords with annual business
or property income above £10,000 (gross). General partnerships (as defined by the Partnership Act 1890) with turnover above £10,000 per year and that have only individuals as partners.
Scope:
Making Tax Digital for Income Tax Self Assessment
Update HMRC periodically (e.g. quarterly) with VAT returns via functionally compatible software, with digital links to the transactions.
Maintain digital VAT records of income and expenses.
Requirements:
April 2022 for all VAT registrants, although businesses can of course sign-up before then.
Mandation:
All VAT registered businesses including those below the VAT threshold who have voluntarily signed up to VAT but not yet signed-up to MTD for VAT.
Scope:
Making Tax Digital for VAT (as of April 2022)
For each individual: Create final declaration, bringing together all data including business and non-business to finalise tax position and final tax liability.
For each business: Create end of period statement (EOPS) by the end of the tax year finalising the taxable profit and loss for the business, making adjustments.
For each business: At least quarterly updates with a summary of business income and expenses.
Maintain digital records of all business income and expenses.
Requirements:
April 2024 for sole traders and landlords. April 2025 for general partnerships. Pilot programme open now.
Mandation:
Small unincorporated businesses (the self-employed) and/or landlords with annual business
or property income above £10,000 (gross). General partnerships (as defined by the Partnership Act 1890) with turnover above £10,000 per year and that have only individuals as partners.
Scope:
Making Tax Digital for Income Tax Self Assessment
2022
2024
2025
Update HMRC periodically (e.g. quarterly) with VAT returns via functionally compatible software, with digital links to the transactions.
Maintain digital VAT records of income
and expenses.
Requirements:
April 2022 for all VAT registrants, although businesses can of course sign-up before then.
Mandation:
All VAT registered businesses including those below the VAT threshold who have voluntarily signed up to VAT but not yet signed-up to MTD for VAT.
Scope:
Making Tax Digital for VAT (as of April 2022)
For each individual: Create final declaration, bringing together all data including business and non-business to finalise tax position and final tax liability.
For each business: Create end of period statement (EOPS) by the end of the tax year finalising the taxable profit and loss for the business, making adjustments.
For each business: At least quarterly updates with
a summary of business income and expenses.
Maintain digital records of all business income and expenses.
Requirements:
April 2024 for sole traders and landlords. April 2025 for general partnerships. Pilot programme open now.
Mandation:
Small unincorporated businesses (the self-employed) and/or landlords with annual business
or property income above £10,000 (gross). General partnerships (as defined by the Partnership Act 1890) with turnover above £10,000 per year and that have only individuals as partners.
Scope:
Making Tax Digital for Income Tax Self Assessment
Update HMRC periodically (e.g. quarterly) with VAT returns via functionally compatible software, with digital links to the transactions.
Maintain digital VAT records of income
and expenses.
Requirements:
April 2022 for all VAT registrants, although businesses can of course sign-up before then.
Mandation:
All VAT registered businesses including those below the VAT threshold who have voluntarily signed up to VAT but not yet signed-up to MTD for VAT.
Scope:
Making Tax Digital for VAT (as of April 2022)
For each individual: Create final declaration, bringing together all data including business and non-business to finalise tax position and final tax liability.
For each business: Create end of period statement (EOPS) by the end of the tax year finalising the taxable profit and loss for the business, making adjustments.
For each business: At least quarterly updates with
a summary of business income and expenses.
Maintain digital records of all business income and expenses.
Requirements:
April 2024 for sole traders and landlords. April 2025 for general partnerships. Pilot programme open now.
Mandation:
Small unincorporated businesses (the self-employed) and/or landlords with annual business
or property income above £10,000 (gross). General partnerships (as defined by the Partnership Act 1890) with turnover above £10,000 per year and that have only individuals as partners.
Scope:
Making Tax Digital for Income Tax Self Assessment
VAT
As of April 2022 when VAT for voluntary registrants is mandated:
{{vat}} VAT Returns
(assuming quarterly return periods).
ITSA
MTD for:
VAT
ITSA
As of April 2024 when VAT for voluntary registrants is mandated:
{{vat}} VAT Returns
(assuming quarterly return periods).
As of April 2024 when MTD for Income Tax Self Assessment (MTD for ITSA) is mandated for sole traders and landlords with incomes above £10,000:
{{quarterly}} quarterly reports for ITSA
(potentially more because quarterly updates are a minimum; some clients may wish to submit more frequent updates.)
{{period}} end of period statement (EOPS)
at least, and likely more if clients have
multiple businesses.
{{final}} final declarations
At least {{total}} reports or submissions for MTD within a 12-month period.
TOTAL:
Open notes