MTD for ITSA in Bristol
Making Tax Digital (MTD) is changing how you manage your Income Tax Self Assessment.
From April 2026, HMRC is replacing the annual submission process with digital record-keeping and quarterly updates. If you’re a Bristol-based landlord or sole trader earning above the HMRC threshold, we’re here to help you get ahead of these changes.
At Reed & Co, we make the transition seamless.
Don’t risk MTD penalties
Failure to meet quarterly deadlines can result in fines, and errors in digital records create unnecessary compliance risks. Many Bristol business owners find that managing the transition to MTD internally takes valuable time away from running their business. What starts as a simple task can quickly turn into a major compliance headache.
Revenue and Customs (HMRC) is now scrutinising digital records like never before, making consistent, accurate submissions a necessity.
We’ll ensure your records are up to date, that submissions are in before the deadline, and that your MTD journey in Bristol is effortless. Let us support you and your business in getting on with life without worrying about penalties.
I’m self employed and work in the creative industry – accounts is not my strong point. I have dealt with Paul for the past few years and Stephen for well over 20 years. I genuinely can’t praise them enough.
Doing my annual return is simply something I don’t have to worry about as they both sort things out quickly and efficiently. If I have any questions they answer emails promptly and in a clear way. Highly recommended.
T. Bird
Compliance Confidence
We make sure your digital records are accurate and up to date. Quarterly submissions are HMRC-compliant, so you can rest assured that your Self Assessment is always done right.
Software Setup & Training
It can be a confusing decision to make. We select, set up, and train you on industry-standard tools that suit your business. Our step-by-step approach makes digital record-keeping simple and guides you through your first quarterly submission.
Time Savings
Quarterly reporting is time-consuming, time you should be using to grow your business. We handle reporting, deadlines, and data entry so you can focus on more important things. Our efficient processes and timely reminders ensure you never have to worry about a last-minute rush.
Ongoing Support
MTD is an ongoing commitment, not just a one-time setup. We offer year-round support, ensure deadlines are met, and answer any questions throughout the process. Whether you simply need an explanation of your report or to update your records, we’re here when you need us.
How MTD for ITSA works
The system is designed to modernise Income Tax Self Assessment, but it does introduce a new quarterly reporting cycle. Here’s what Bristol business owners should know:
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- Digital record keeping: Maintain records of all income and expenses using approved software. That replaces paper records and simplifies updates.
- Quarterly updates: File your earnings every three months. This also spreads the work, assists with cash flow and keeps HMRC informed.
- End-of-year declaration: This is a final confirmation of your annual totals and is the new version of the old Self Assessment form.
- Compatible software: We’ll recommend HMRC-recognised tools that are right for your business, whether you’re a small trader or a landlord.
- Who must comply: Anyone who is a sole trader or landlord and whose tax return exceeds the threshold. Freelancers, tradespeople, landlords and consultants operating in Bristol all now need to adhere to the new rules.
Outsource your accounting to us
Reed & Co offer a comprehensive accounting service for businesses in Bristol and the surrounding areas. Outsource your accounting to us and we’ll help you reduce unnecessary costs and save valuable time. To find out more about our services, contact us today.
What Our Clients Say
I got into contact with Reed & Co, to help with my accounts. Paul was very helpful and professional. Kept me fully updated and informed through the whole process! Highly recommend! Will defiantly be telling friends and family where to go to sort out their accounts! Defiantly will be going back in future, no one better!
Callum Garret – GarrettCo Ltd
Paul Reed has looked after my business accounts for the past two years, he is very efficient and a great advisor for someone with little expertise like myself! HIGHLY RECOMMENDED
Elliot O’Neil – Ltd Company
