When?!
Here’s when you need to start using recognised software to keep records if you work for yourself as a sole trader or make money from property;
6 April 2026 if your turnover is above £50,000
6 April 2027 if your turnover is above £30,000
6 April 2028 if your turnover is above £20,000
HMRC will work our your start date by looking at your total turnover from self-employment and property, put together, on your latest tax return. Your turnover is the amount of money you bring in before you take off any expenses or pay tax. Other types of income will not be included and they do not count towards the amounts shown above.
Hammock Webinar
A huge thank you to Matthew Perkins at Hammock for his excellent and informative MTD Bitesize Webinar yesterday. Quite honestly, if you missed it, you really did miss out. But don’t panic! We are sending all of our members the presentation slides and further guides for you to view when you can.
Hammock is the first landlord accounting software recognised by HMRC as compatible with Making Tax Digital. With Hammock, your rental income and expenses are tracked in real time, and most transactions are categorised automatically. By the time you need to file the quarterly update, your data is already organised – you can just review and submit. This is how Hammock helps you get MTD-ready:
- Submit MTD quarterly filings to HMRC
- Invite your accountant
- Manage all ownership structures, including jointly owned properties
- Add all tenancies, including HMO’s and Furnished Holiday Lets
- Suitable for personal bank feeds
- Many other features like compliance certificate storage (with reminders)
Presentation Slides; HAMMOCK PRESENTATION
Guidance, Support, Training Sessions; LANDLORD PACK
Pricing and Free Trial; PRICING
