Get ready for MTD Soletrader & limited company | Ep. 11

Have you heard about Making Tax Digital (MTD) and you're still confused? I get it. This video breaks down the recent updates for you to understand how MTD impacts you as a sole trader and if you run a limited company. This video breaks down who it affects, the £50,000 and £30,000 thresholds, quarterly updates, and whether you really need paid accounting software. 👇 Free resources & community Get the Set Up for Success workbook here: https://riahna-anga-tari-planners.kit... In this video, we look at Making Tax Digital for Income Tax Self Assessment (MTD ITSA) from a sole trader's point of view: what counts as digital record keeping, who is in scope from April 2026 and April 2027, how quarterly updates work, and how you can stay compliant using a spreadsheet with bridging software, including the free options on HMRC's approved list. We then cover what's changed for limited companies: the Corporation Tax filing changes from 31 March 2026, and Companies House identity verification for directors and persons with significant control (PSCs). Whether you're self-employed, a landlord with rental income, or a limited company director, this guide will help you understand what applies to you and set up your record keeping properly from the start. 🎥 Disclaimer: This video is for educational purposes only and is not professional advice. Rules can change, so please check GOV.UK for the latest guidance and seek advice for your specific circumstances. In this video, you'll learn: 0:00: Introduction & disclaimer 0:29: What is Making Tax Digital (MTD)? 1:03: Sole traders: MTD for Income Tax (MTD ITSA) explained 1:33: Sole traders: What counts as digital record keeping 3:09: Sole traders: Who MTD affects 3:58: Sole traders: MTD thresholds for April 2026 and April 2027 4:38: Sole traders: MTD-compatible software vs spreadsheets and bridging software 5:19: Sole traders: Free bridging software and future-proofing your records 7:03: Sole traders: How to find free software on HMRC's list 7:37: Sole traders: Quarterly updates example 8:54: Limited companies: Corporation Tax filing changes 9:52: Limited companies: Companies House identity verification 10:08: Limited companies: What is a person with significant control (PSC)? 10:29: Limited companies: Why identity verification was introduced 11:18: Limited companies: How to verify your identity 11:58: Summary & what's next This is Episode 11 of Set Up for Success, the mini course helping UK solopreneurs build solid foundations so they can spend less time on admin and more time on growth. Subscribe for more practical UK business guides, tax tips, and advice for sole traders and small business owners. If you haven't seen these videos, you can watch them now: ➤The Dark Side of Multiple Income Streams (No One Talks About)    • The Dark Side of Multiple Income Streams (...   ➤The Hidden Power of Failure: What They Don't Teach You    • Видео   ➤Think You're Profitable? Revenue vs Income Will Shock You    • Think You’re Profitable? Revenue vs Income...   ➤The Signs It's Time to Pivot Your Business (My Story)    • The Signs It’s Time to Pivot Your Business...   ➤I quit my job to start a business and failed… but it changed everything    • I quit my job to start a business and fail...   ➤The truth about the difference between a 9 to 5 job and starting a business: 8 things I wish I knew    • The truth about the difference between a 9...   ➤Stop Wasting Money! Payhip Gives You Everything in One Place 💡    • Stop Wasting Money! Payhip Gives You Every...   If you haven't subscribed to the channel, do so now ➤    / @riahnaanga   #MakingTaxDigital #MTD #SoleTraderUK