📌 In This Month’s News
March is a pivotal month. Making Tax Digital is coming
The end of the tax year is approaching, Making Tax Digital is getting closer, and regulatory requirements continue to increase. At Jenner’s, our focus is simple: reduce pressure, stay compliant, and keep you ahead of change.
This month we’re focusing on preparation, clarity, and action because leaving things until the last minute rarely leads to good decisions.
🧾 Making Tax Digital for Income Tax – Don’t Wait Until You Have To
Making Tax Digital (MTD) for Income Tax is no longer a distant concept it is a confirmed rollout. If you are a sole trader or landlord, this change is likely to affect you.
From April 2026, MTD will apply to individuals with annual business and/or property income over £50,000. In addition, from April 2027 the threshold reduces to £30,000, with further expansion expected in future years.
Importantly, these figures are based on gross income (turnover), not profit.
As a result, many businesses who currently feel unaffected may fall within scope sooner than expected.
Under MTD, you will be required to keep digital records and submit quarterly updates to HMRC, followed by a final end-of-year declaration. Consequently, this moves you from one annual submission to at least five each year.
Waiting until you are legally required to comply may increase pressure unnecessarily. Instead, preparing early allows time to choose suitable software, receive training and adjust your processes gradually.
Our advice is straightforward:
- Don’t wait.
- Get the right software.
- Get comfortable using it.
- Start early.
Even smaller businesses will need to comply. HMRC are moving more taxpayers into quarterly reporting, and leaving this until the last minute will only increase pressure.
The sooner you begin preparing, the smoother the transition will be.
🧾 Making Tax Digital for Income Tax – Know the Thresholds
If you’re a sole trader or landlord, this applies to you.
Making Tax Digital (MTD) for Income Tax is no longer a distant concept it’s a confirmed rollout.
Here’s what you need to know:
- From April 2026, MTD will apply to individuals with annual business and/or property income over £50,000.
- From April 2027, it will extend to those with income over £30,000.
- Further expansion to lower income thresholds is expected to follow.
This is based on gross income (turnover) — not profit.
Under MTD, you will be required to:
- Keep digital records.
- Submit quarterly updates to HMRC.
- Submit a final end-of-year declaration.
That means moving from one tax return per year to at least five submissions.
Waiting until you are legally required to comply will only increase pressure. Software setup, learning new systems, and adjusting to quarterly reporting takes time even for smaller businesses.
Our advice is simple:
- Don’t wait.
- Get the right software.
- Get comfortable using it.
- Start early.
Even if you fall below the £50,000 threshold today, growth or combined income from property and self-employment could push you over it.
💡 Jenners Tip: Check your turnover now. If you’re anywhere near £50,000, MTD will come around faster than you think. Reviewing your position now will give you greater control later.
🏢 Companies House ID Verification – Check Your Code
Companies House ID verification is now well underway, and most of our clients have already been through the process. However, we are aware that there have been reports of system errors where personal codes may not have been properly issued or recorded by Companies House.
If you are a director or person with significant control (PSC):
- Make sure you have received your personal verification code.
- Store it securely.
- Keep a record of it somewhere safe.
Without your personal code, we cannot submit certain filings on your behalf.
If you’re unsure whether your verification is complete, contact us and we’ll check for you.
💡 Jenners Tip: Treat your Companies House personal code like a passport. Keep it secure and accessible you will need it.
📅 31 March – Planning Cut-Off for New Clients
As we approach the end of the tax year, our priority is maintaining service standards for existing clients and ensuring all compliance work is completed properly and on time.
If you are considering changing accountants or coming on board with Jenners, please speak to us before 31 March.
We will not be taking on disorganised, mid-year compliance issues that place unnecessary pressure on our team.
We believe good accountancy is proactive, not reactive.
💡 Jenners Tip: If you’re thinking of switching accountants, do it early. Waiting until problems arise is rarely the best strategy.
🏛 Increased Regulation for Tax Advisers – Why It Matters
Behind the scenes, the compliance landscape isn’t just changing for businesses it’s changing for accountants too.
Tax advisers are now required to complete additional registrations and verification processes with HM Revenue & Customs and Companies House, on top of existing anti-money laundering supervision and agent authorisations.
This means:
- Additional registration requirements
- Increased identity verification
- Tighter oversight of who can act as an agent
- Greater accountability for advice given
While this adds more administrative layers for firms like ours, it ultimately strengthens standards across the profession.
For clients, this means reassurance.
When you work with Jenners, you are working with a firm that is:
- Fully registered
- Fully compliant
- Professionally supervised
- Proactive about regulatory change
As regulation increases, so does the importance of working with advisers who take compliance seriously.
💡 Jenners Tip: If you’re choosing an accountant, don’t just look at price. Make sure they are properly registered, regulated and prepared for the changes ahead.
🧹 Messy Jobs Spotlight – When Things Have Got a Bit… Tangled
Not every business starts with perfect systems.
Sometimes it begins with a spreadsheet or a carrier bag of receipts. However, over time those small shortcuts can develop into larger compliance risks.
As a result, VAT returns, CIS deductions or payroll records may no longer align properly. When that happens, early intervention makes all the difference.
And that’s where Messy Jobs comes in.
Messy Jobs is our specialist service for businesses who need help untangling:
- Disorganised CIS records
- Backlogged bookkeeping
- Payroll errors
- VAT confusion
- Incomplete accounts
- HMRC letters that haven’t been opened
Here at Jenner’s, We don’t judge. We don’t panic. We fix.
💡 Jenners Tip: Avoiding a problem rarely makes it smaller. If things feel messy, how about speaking to us before it escalates.
❓ This Month’s Q&A
Q1: I’m retraining to start a new business. Can I claim the cost of my training?
In most cases, no.
HMRC does not allow tax relief where you are acquiring a new skill or qualification that provides an enduring personal benefit. If you are retraining while still employed elsewhere, or before your new business has started trading, the cost is usually not allowable.
Ongoing training within an existing business can sometimes be deductible but new qualifications are typically not.
If you’re unsure, ask before you spend.
Q2: Do I need software for Making Tax Digital?
Yes.
MTD requires digital record keeping and submissions through compatible software. Paper records and manual submissions will not meet the requirements.
There are various options available, and we can advise on what’s suitable for your business. Get in touch.
Q3: What happens if I miss a quarterly submission under MTD?
HMRC are introducing a points-based penalty system for late submissions. Repeated missed deadlines will lead to financial penalties.
Quarterly reporting will require more regular discipline than the current annual system.
Planning ahead is key.
📅 Key Tax Dates – March 2026
| Date | What’s Due |
|---|---|
| 1 March | Corporation Tax due for companies with 31 May 2025 year-end |
| 19 March | PAYE, NIC and CIS due (postal payments) |
| 22 March | PAYE, NIC and CIS due (electronic payments) |
| 31 March | Financial year-end for many companies |
| 31 March | Capital Allowances cut-off for certain claims |
💡 Jenners Tip: Don’t leave year-end planning until April. There are still opportunities to review dividends, pension contributions, and capital purchases before 31 March.
Final Thought
How Jenner’s Can Help
Keeping on top of your accounting and compliance responsibilities doesn’t have to be stressful. With the right support, you can stay organised, compliant and confident about your numbers.
If you have any questions about Companies House ID verification, Self Assessment, or February cash flow, please get in touch with the Jenner’s team.
Need personalised advice?
If any of this month’s topics affect you or your business, we’re here to help.
Contact our team at Jenners Tax & Business Advisers for tailored support and practical guidance.
Check out all of services pages today.
Call us on 01432 379988 or use the contact us page.
📞 01432 379988
🌐 www.jennersacc.co.uk