Making Tax Digital (MTD) for Income Tax Self-Assessment (ITSA) is a major change coming for self-employed creatives and landlords. It requires businesses to keep digital records and submit tax returns quarterly instead of annually. As accountants for creative businesses, Jungle Tax ensures that creatives stay compliant, avoid penalties, and reduce tax-related stress.
What is MTD for Income Tax and Why Does It Matter?
HMRC’s Making Tax Digital (MTD) initiative is transforming the way businesses report taxes. By April 2026, all self-employed individuals and landlords earning over £50,000 must comply with MTD for ITSA. This means creatives must maintain accurate digital records and submit their tax updates every quarter. Our team at Jungle Tax, accountants for creative businesses, is here to ensure you transition smoothly.
How MTD Affects Creative Businesses
Many creatives work with fluctuating incomes, multiple revenue streams, and project-based contracts, making tax management more complex. Accountants for creative businesses like Jungle Tax help streamline the process, ensuring your tax records are up to date and compliant with MTD regulations.
How Jungle Tax – Accountants for Creative Businesses – Can Help You Stay Compliant
- Seamless Digital Record-Keeping
As accountants for creative businesses, we help implement digital accounting software to track income and expenses effortlessly. - Quarterly Tax Reporting Support
Instead of one tax return per year, creatives will need to submit four. Our accountants for creative businesses ensure your quarterly submissions are accurate and timely. - Minimizing Tax Liabilities
With proper MTD compliance, accountants for creative businesses can help you claim all eligible deductions, reducing your tax bill. - Avoiding Penalties
Missing deadlines could lead to fines. Jungle Tax, as trusted accountants for creative businesses, makes sure you never miss a submission. - Business Structure Advice
Our accountants for creative businesses assess whether operating as a sole trader or limited company is the best tax-efficient option under MTD. - VAT and MTD Integration
Many creatives are already using MTD for VAT. As accountants for creative businesses, we integrate your VAT and ITSA processes for seamless compliance. - Training on MTD-Compliant Software
Not sure how to use digital accounting tools? Our accountants for creative businesses provide expert training on software like QuickBooks and Xero. - Handling Multiple Revenue Streams
Many creatives earn from freelancing, royalties, sponsorships, and merchandise. Our accountants for creative businesses organize your finances to ensure MTD compliance across all revenue sources. - Optimizing Tax Planning for Creatives
We use MTD data to forecast earnings, making it easier for creatives to plan for taxes. Our accountants for creative businesses help optimize cash flow and tax liabilities. - Stress-Free Compliance
MTD compliance doesn’t have to be overwhelming. With Jungle Tax, accountants for creative businesses, you can focus on creativity while we handle tax complexities.
Why Creatives Should Act Now
The deadline for MTD for ITSA is approaching, and preparation is key. By working with Jungle Tax, accountants for creative businesses, you ensure that your finances are compliant before the transition. Early adopters will avoid last-minute stress and possible penalties.
Get in Touch with Jungle Tax – Accountants for Creative Businesses
MTD for Income Tax is a significant shift, but with the right support, it can be a seamless process. Let Jungle Tax, accountants for creative businesses, handle the technicalities while you focus on your craft. Contact us today for expert MTD guidance!
