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🎙️ Episode Title

Making Tax Digital Explained: Thresholds, Deadlines & What Small Businesses Need to Do

✨ Episode Description

In this episode of The Small Business Podcast for Small Businesses, Farley breaks down Making Tax Digital (MTD) for Liam in a clear, jargon‑free way—so you finally understand what’s changing, when it’s changing, and what you actually need to do as a small business owner.

We cover:

• What Making Tax Digital really is and why HMRC is rolling it out
• Who must comply and when the rules apply to you
• The new income thresholds:
  1. Over £50,000 → mandatory from 6 April 2026 
  2. Over £30,000 → mandatory from 6 April 202
  3. Over £20,000 → planned for 2028 (subject to legislation)
• What “digital record‑keeping” actually means
• How quarterly submissions work
• What software you’ll need—and the free option we recommend
• What happens if you don’t comply

Whether you’re a sole trader, landlord, or running a small business, this episode gives you the practical steps to get ready without the overwhelm.

🔗 Useful Links Mentioned

• HMRC: Making Tax Digital Guidance
  https://www.gov.uk/guidance/find-out-if-and-when-you-need-to-use-making-tax-digital-for-income-tax 
• 123 Sheets (Free MTD‑compatible bridging software)
  https://www.123sheets.com

If you want to stay ahead of the changes and avoid last‑minute stress, this episode is a must‑listen. Or drop in to Suffolk Creative Spaces (if your local) on the 26th March, or book some time with Farley to answer any questions you have and get yourself ready for the changes that are comming. 

breakoutservices.co.uk/book-an-appointment

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