If you’re an accountant or bookkeeper, find out how long it will take to get your sole trader and landlord clients ready for Making Tax Digital for Income Tax Self Assessment (MTD for ITSA) in April 2024.
Total hours required
This is how long it will take to migrate your affected clients.*
Number of working days until MTD for ITSA
Based on a five-day week, this is how many working days you have between today and 6th April 2024, not taking into account any holidays.
Hours per week required
Based on the information above, this is how much time you’ll need to spend every working week between now and 6th April 2024 in order to prepare your clients for MTD for ITSA.
It may feel like you still have a lot to do, but don’t panic! FreeAgent can help you prepare your clients for MTD for ITSA ahead of the deadline.
Good news! It looks like your MTD for ITSA workload should be manageable, but don’t leave it too late to get your clients prepared.
If you’re a FreeAgent Partner, head to the Practice Portal to discover a host of exclusive resources, including our MTD for ITSA pack which includes flyers, guides and handy email templates.
You can also learn more about FreeAgent for Landlords, a version of our award-winning software designed specifically for clients who earn income from property, and sign up for partner-exclusive webinars.
For more help and advice on getting your practice and clients ready for MTD for ITSA, speak to your account manager.
Not yet a FreeAgent Partner? Find out about all the benefits of using FreeAgent in your practice and try it for free.
Who will be affected by MTD for ITSA?
HMRC has advised that MTD for ITSA will come into effect from 6th April 2024. Self-employed business owners and landlords with a total business and/or property income above £10,000 per year will have to comply with MTD for ITSA from that date.
What are the requirements for those affected?
All affected self-employed business owners and landlords will need to:
sign up for MTD for ITSA via HMRC’s website
keep digital business records
use MTD-compatible accounting software such as FreeAgent
send quarterly business income and expenses updates to HMRC through the software
finalise the business’s income in a declaration which confirms that the updates sent are correct, and make any accounting adjustments
submit this final declaration to HMRC
* This calculation assumes that it will take a minimum of four hours to convert one client, based on feedback from our Practice Partners.
Disclaimer: We have made every attempt to make sure that the calculations are correct but FreeAgent Central Ltd cannot be held responsible for incorrect output from this calculator or for the outcome of any decisions you make as a result of using it. Full terms and conditions.
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