Making Tax Digital: What Northern Ireland Businesses Need to Know Now

Are you a sole trader, landlord, or business in Belfast, Northern Ireland? HMRC’s Making Tax Digital (MTD) is a significant change that will impact how you handle your taxes. Errigal Accountants, based in Belfast, is here to help you navigate these new requirements and ensure your business is compliant.

What is Making Tax Digital?

MTD for Income Tax is a new system requiring thousands of self-employed individuals and landlords to keep digital records of their income and expenses. Instead of a single annual tax return, you’ll need to submit quarterly updates to HMRC using MTD-approved software.

Who Does MTD Affect in Northern Ireland?

From April 2026, MTD will apply to sole traders and landlords in Northern Ireland with an income over £50,000. This threshold will drop to £30,000 from April 2027. Partnerships and companies will be included in later phases, so it’s crucial for businesses of all sizes to be aware of the changes.

Why You Need to Prepare Now

The shift from manual record-keeping to a digital process can seem daunting. Preparing for MTD now will help you avoid last-minute stress, unnecessary costs, and potential penalties. At Errigal Accountants, we believe this is an opportunity to modernize your financial systems and gain better insight into your business performance.

Key Steps to Prepare for MTD

Errigal Accountants in Belfast recommends the following steps to get ready for the MTD deadline:

  1. Check Your Status: Determine if your business or property income falls within the MTD rules.

  2. Review Your Systems: Assess your current record-keeping methods. Are you using spreadsheets, paper files, or outdated software?

  3. Choose the Right Software: Select MTD-approved accounting software that suits your business needs.

  4. Trial Quarterly Reporting: Practice submitting quarterly updates to get a feel for the new system.

  5. Get Professional Guidance: Don’t go it alone. Errigal Accountants offers expert advice and support to ensure a smooth transition.

How Errigal Accountants Can Help

As your local accountants in Belfast, Errigal Accountants provides comprehensive MTD consultation and support. We can help you:

  • Understand your MTD obligations.

  • Choose and implement the right digital software.

  • Manage your quarterly submissions.

  • Ensure full compliance with HMRC regulations.

Contact Errigal Accountants today to schedule a consultation and take the first step towards a seamless transition to Making Tax Digital.

Visit HMRC’s official page for full details.

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