Making Tax Digital for Income Tax Accountancy Service
Just £125 per quarter
or
£400 per annum payable in advance.
From April 2026, the way that you do your tax returns is changing.
You may have to file FOUR tax reports a year and a final annual submission. This new system is called Making Tax Digital for Income Tax. It replaces the current self assessment tax return system.
Depending on your turnover you will need to start using the new system from April 2026, 2027 or 2028. HMRC will write to you to advise you when you need to comply.
If you fall within the new Making Tax Digital for Income Tax regime then our MTD service is what you need.
Making Tax Digital for Income Tax
| Paying Quarterly | £125 per return |
| Paying Annually, in advance | £400 per annum |
VAT is added to our fees
What's included in the fees
| Getting you set up for Making Tax Digital for Income Tax with HMRC |
| Reviewing your quarterly records and collating a quarterly submission ready for filing |
| Filing your quarterly submission using our own software |
| Preparing a tax estimate based upon your records so you know your current tax position |
| Comparing this tax estimate with the HMRC estimate and identifying differences |
| Preparing your final submission (formerly known as the self assessment tax return) |
| Sending this to you for your approval and filing it once approved |
| Answering questions related to your Making Tax Digital for Income Tax filings and submissions* |
What's not included in the fees
| Bookkeeping, data entry and reconciliations - ask your accountant for a quote |
| Cloud Accounting system |
*Help and support will be provided subject to a reasonableness test. If we feel that you need more help and support than your package level provides we will discuss the options with you going forward.
What we need from you
Prerequisites
As the deadlines are short for making the quarterly submissions with HMRC we do need you to operate in a certain way. Whilst this may seem like a pain the small amount of set up effort will speed up the process, make things easier for you (and us) to do your accounting and ensure that deadlines are met.
With this in mind we need you to:
| Use a dedicated business bank account - we can suggest a free or low cost account if you do not already have one |
| Only use the business bank account for business income and costs |
| Transfer money from your business to your personal account for your wages or drawings - we can explain how to do this |
Quarterly
| An electronic download of your business bank account - we'll tell you how to do this and what we need |
| Details of any out of pocket expenses claimed not paid from your business bank account - we'll provide a form for you to use |
What you can expect from us as your dedicated accountant
As part of your accountancy service you will:
| Be allocated your own dedicated qualified accountant |
| Be sent the direct contact details for your allocated accountant |
| Have access to the extensive experience, knowledge and expertise of your accountant as well as that of the wider CheapAccounting.co.uk Network |
| Receive a rapid response to your communications, during normal working hours |
| Be certain that our accountants are regulated by one of the UK Professional Accountancy or Taxation Bodies |
| Be assured that our accountants use de facto industry standard software for the preparation and filing of accounts and tax returns |
What we expect from you
We provide a quality, affordable and professional accountancy service at a price that you can afford.
To continue to do this we expect you to:
| Respond to our communications in a timely manner |
| Provide us with the information that we ask for as soon as possible |
| Be open and honest with us about your accounting and tax affairs at all times |
| Treat us with respect and dignity |