The Wealden Business Group

Business networking group based in Tenterden, Kent

  • Our members
  • Resources
    • Members toolkit
    • Referrals
    • Constitution
    • Book club and book loans
    • Useful links
  • Diary
  • Home
  • About
  • Networking – and more
  • How to join
    • Affiliate membership
    • Springboard
  • News
  • Testimonials
  • Contact
You are here: Home / Blog / David Meredith – Making Tax Digital

David Meredith – Making Tax Digital

21/05/2025 By wealden

Weds 21st May 2025

Starting in the 2026/27 tax year Making Tax Digital will extend beyond VAT returns and start to impact Sole Traders and Rental Businesses. The eligibility will be determined on total income across all relevant income streams, and the roll out will be staged as follows:

  • April 2026 – over £50K turnover
  • April 2027 – over £30K turnover
  • April 2028 – over £20K turnover

Quarterly submissions will need to be made to HMRC, which should have the beneficial effects of making ongoing recording of income and expenditure more efficient, and ensuring your tax bill is more predictable. It is also likely to mean the type of work undertaken by bookkeepers and accountants moves away from day-to-day record keeping and towards advice, verification and submission.

David highly recommended that all businesses likely to be affected by this utilise accounting software such as Sage, Quickbooks, Xero, Free Agent, etc. For some simple business models, such as rentals, using spreadsheets with appropriate filing software is still an option.

As always, if you want to make those tax worries low, Busbys is just the place to go!

250521 WBG Making Tax Digital (Update)Download

Filed Under: Blog Tagged With: Accounting, Finance

Latest News from WBG

David Meredith – Making Tax Digital

21/05/2025

Richard Hill – Bishopsgate Wealth Management

14/05/2025

2025/26 Charity

WBG are proud to support this worthy local charity for 2025/26

The book club is currently reading…

Upcoming Events

Jun 11
7:00 am - 8:30 am

Bill Ferguson

Jul 23
7:00 am - 8:30 am

The Mildred Trust – Emma Isworth and Beth Rice

View Calendar
Video Player
https://www.youtube.com/watch?v=Mhp_pe6tqE4
00:00
00:00
01:11
Use Up/Down Arrow keys to increase or decrease volume.

Get social

  • E-mail
  • Facebook
  • LinkedIn
  • Twitter
  • YouTube

Search the WBG website

ANP Security Promotion

Extend your home alarm to cover your car with one easy to use device. Contact ANP Security for more details.

Newsletter

Signup for our newsletter

Copyright © 2025 · The Wealden Business Group ·