Making tax interesting: preparing for MTD for Income Tax Self Assessment

Georgi Rollings of Starfish Accounting and Xero’s Stuart Miller discuss the challenges ahead for Making Tax Digital for Income Tax Self Assessment (MTD ITSA) and how to prepare. 

 

Making Tax Digital (MTD) is a UK government initiative that kicked off in 2019 with VAT-registered businesses, with the aim to improve the way that businesses submit tax returns. 

 

MTD for ITSA is now due to kick off from April 2024, affecting more than 4 million sole traders, landlords and business owners, with partnerships to follow in 2025. 

 

But how will HMRC, accountants, bookkeepers and software providers deal with the huge volume of businesses and individuals soon required to comply? What are the opportunities – and risks – for accounting firms and the self-employed? 

 

Georgi Rollings is the  founder and CEO at Starfish Accounting. She’s been a Xero partner since 2011 and is a current member of our Xero Partner Advisory Council – XPAC. 

 

Stuart Miller is Xero’s Head of Product Compliance & Industry Engagement – in other words: Xero’s very own expert on tax regulation. 

 

This podcast is hosted by Ash Gibson, brought to you by Xero and produced by Bird Lime Media.