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Total Books Accountants, Bookkeepers & Tax advisers We are a friendly and professional team of local accountants and tax experts serving small to medium-

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Total Books has drawn on the ICAEW’s guidance to give you a clearer picture of what Making Tax Digital means in practice...
23/10/2026

Total Books has drawn on the ICAEW’s guidance to give you a clearer picture of what Making Tax Digital means in practice.

Making Tax Digital sounds complicated, but understanding the basics can make the whole process feel much more manageable. In this post, we explore what MTD means, who it affects and what taxpayers should be doing to prepare

At its heart, MTD is about moving tax administration into a more digital, ongoing process. For those within the Income Tax requirements, this means keeping digital records and submitting information to HMRC through compatible software rather than relying entirely on the traditional annual reporting process.

For many business owners and landlords, the biggest adjustment won’t necessarily be the technology, it will be getting used to maintaining accurate records consistently throughout the year.

That’s why preparation matters. Having good bookkeeping habits, understanding your reporting obligations and using the right software can help make MTD feel like a natural part of your financial routine rather than another administrative burden.

And there can be benefits too. Better record-keeping can give you a clearer picture of your finances throughout the year, helping you make more informed decisions rather than waiting until year-end to understand where you stand.

📖 Want a clearer explanation of how MTD works? Read the full ICAEW guide:
https://www.icaew.com/insights/tax-news/2024/nov-2024/mtd-explained

If you’re wondering how these changes could affect your business, we’re here to help you understand the numbers, not just meet the deadlines.

Below is a summary of an expert article by Total Books on MTD Quarterly Updates: What Sole Traders and Landlords Submit ...
22/10/2026

Below is a summary of an expert article by Total Books on MTD Quarterly Updates: What Sole Traders and Landlords Submit Every Three Months. The article explains what needs to be reported, what does not, how the deadlines work and what happens when something needs correcting.

Four quarterly updates. One annual tax return. But what actually goes into those updates?

A quarterly MTD update is essentially a set of cumulative totals from your digital records. It covers income and expense categories for each relevant source of income.

Importantly, you are not sending HMRC individual invoices or receipts with every update. You are also not submitting a tax calculation or making a tax payment simply because a quarterly update is due.

The standard deadlines are 7 August, 7 November, 7 February and 7 May, with each update building on the figures from the beginning of the tax year.

This makes accurate bookkeeping particularly important. If your records are incomplete or transactions are categorised incorrectly, the figures you report may not give you a reliable picture.

There are also items that are dealt with later in the process, including relevant year-end adjustments and information outside the quarterly MTD reporting requirements.

For sole traders and landlords, the key takeaway is simple: MTD makes regular bookkeeping part of the tax reporting process.

Understanding what needs to be submitted, and what does not, can make the new system much easier to manage.

Read the full article:
https://totalbooks.co.uk/mtd-quarterly-updates-sole-traders-landlords/

Going digital doesn't necessarily mean taking a photo of a receipt and emailing it to yourself with the subject line: “I...
21/10/2026

Going digital doesn't necessarily mean taking a photo of a receipt and emailing it to yourself with the subject line: “IMPORTANT!!!” 📱🧾😂

For landlords affected by Making Tax Digital for Income Tax, keeping accurate digital records is becoming an increasingly important part of managing your tax affairs.

That means having a reliable system for recording rental income and expenses rather than relying on receipts, screenshots, bank statements and emails that somehow made sense six months ago.

The real benefit of good digital bookkeeping isn't just meeting your reporting obligations.

It can also help you understand your property business throughout the year.

How much rental income are you receiving?

What expenses are you paying?

How are your properties performing?

And perhaps most importantly…

Where on earth did you put that receipt? 😂

A good bookkeeping system should answer those questions without requiring an archaeological expedition through your inbox.

At Total Books, we help landlords and self-employed individuals organise their finances and prepare for Making Tax Digital.

Because your tax records deserve better than living permanently in your camera roll. 📱😂

Find out more at https://bit.ly/4i2rmUk

Still keeping your business or property records in spreadsheets, folders or paper receipts? Now is a good time to think ...
20/10/2026

Still keeping your business or property records in spreadsheets, folders or paper receipts? Now is a good time to think about moving your bookkeeping into a digital system.

MTD for Income Tax is changing the way many self-employed individuals and landlords manage and report their financial information.

Moving to digital records doesn’t have to happen overnight, but starting early can make the transition much easier. Choosing suitable software, organising your income and expenses and getting into the habit of reconciling transactions regularly can help you build a reliable bookkeeping routine.

It also gives you time to spot and correct problems before they become an issue when it’s time to submit information to HMRC.

Cloud accounting software such as Xero can provide a clearer view of your financial records and make ongoing bookkeeping more manageable.

The key is not to wait until your first deadline is approaching. The earlier you establish the right system, the more confident you can be when your reporting obligations begin.

Need help getting your accounting systems organised? Find out how Total Books can support your business: https://bit.ly/4i2rmUk

All about Total Books Service: Accountants for Contractors & FreelancersYour client work might change from month to mont...
19/10/2026

All about Total Books Service: Accountants for Contractors & Freelancers

Your client work might change from month to month, but your accounts still need to stay on track. This post explains how Total Books supports contractors and freelancers with practical accounting, tax and business guidance tailored to project-based and personal-service businesses.

Contracting and freelancing can offer flexibility and independence, but they can also bring important financial decisions with them. From understanding IR35 considerations to managing records and thinking about salary versus dividends, having the right accounting support can help you make decisions with greater clarity.

At Total Books, we understand that contractors and freelancers don't always have a straightforward financial year. Projects can start and finish at different times, income can fluctuate and your business structure may need to evolve as your circumstances change.

That’s why our support goes beyond simply keeping the books.

We help contractors and freelancers understand their numbers, stay organised, manage their accounting and consider the tax and structural implications of their decisions. Whether you're already established or reviewing how you operate your business, our team can help you understand your options.

Total Books is an AAT licensed practice and HMRC registered tax agent, providing professional accounting and tax support across the UK. 📈

Ready to take the guesswork out of your accounts?

Learn more about how we support contractors and freelancers: https://bit.ly/4huTPlK or book a free 15-minute call with Total Books.

19/10/2026

Have you got rental income that was never declared, or was missed from a previous tax return? There is a formal route for putting things right.

In Part 4 of our 10-part Let Property Campaign series, we’re explaining what the Let Property Campaign is, who it’s designed for, and why understanding the process early can help landlords deal with historic rental income issues properly.

The Let Property Campaign is HMRC’s disclosure route for eligible individual landlords with unpaid tax relating to residential property income in the UK or overseas. If you’ve missed rental income from a tax return, or never declared it at all, the campaign provides a structured way to voluntarily disclose the information and bring your tax affairs up to date.

It can apply to situations such as income from one or more residential properties, overseas rental property, certain rent-a-room situations, or an inherited property that is now being rented out. However, the rules depend on your individual circumstances, and the campaign does not apply to every type of property or taxpayer.

Once you notify HMRC, there are important deadlines and calculations to consider, including working out the tax, interest and penalties that may be due. Getting your figures and disclosure right is therefore an important part of the process.

If you’re unsure whether the Let Property Campaign applies to you, professional advice can help you understand your position before contacting HMRC.

📞 Learn more about the Let Property Campaign:
https://bit.ly/4pV1FGW

Follow the series for Part 5, where we’ll look at the 90-day roadmap.

Total Books has reviewed the official HMRC guidance to highlight what taxpayers need to know about joining the MTD for I...
16/10/2026

Total Books has reviewed the official HMRC guidance to highlight what taxpayers need to know about joining the MTD for Income Tax system.

Making Tax Digital isn’t something to leave until the last minute. This post looks at HMRC’s guidance on signing up for MTD for Income Tax and why getting prepared early can make the transition much easier.

For sole traders and landlords who fall within the relevant criteria, MTD introduces a different approach to managing and reporting tax information. Instead of relying solely on an annual tax return, taxpayers will need to keep digital records and use compatible software to send updates to HMRC.

While the change may seem daunting at first, early preparation can make a real difference. Choosing suitable software, understanding your obligations and getting your records organised before you are required to report can help you avoid unnecessary stress.

It’s also important to remember that MTD is more than simply switching to digital bookkeeping. It changes the way tax information is managed throughout the year, which means good habits and reliable accounting processes will become even more valuable.

If you think MTD may apply to you, now is a good time to understand what’s involved rather than waiting for your first deadline to arrive.

📖 Read the full HMRC guidance here:
https://www.gov.uk/guidance/sign-up-for-making-tax-digital-for-income-tax -publication-update-history

And if you’re unsure whether you need to sign up or what you need to do next, speak to Total Books for guidance tailored to your circumstances.

Below is a summary of an expert article by Total Books on HMRC MTD Income Tax Changes: What Is Different When You File.T...
15/10/2026

Below is a summary of an expert article by Total Books on HMRC MTD Income Tax Changes: What Is Different When You File.

Think Making Tax Digital means filing four tax returns and paying HMRC four times a year? It doesn’t.

Your annual Self Assessment return is still required, and the 31 January filing deadline remains. The key change is that the annual return now sits at the end of a wider reporting process.

For those within MTD for Income Tax, the process involves:

• Keeping digital records of income and expenses
• Submitting four quarterly updates through compatible software
• Making relevant year-end adjustments
• Adding income outside the quarterly MTD process
• Completing the final declaration and annual return

A quarterly update is not a tax return. It does not mean calculating or paying your Income Tax every three months. Instead, it provides HMRC with cumulative information from your digital records.

You may also need to check or add information at year end, such as savings interest, dividends or other income outside the MTD process.

The practical takeaway? Good bookkeeping throughout the year is becoming increasingly important. Keeping accurate digital records can make quarterly reporting and the final tax return easier to manage.

Read the full article:
https://totalbooks.co.uk/hmrc-mtd-income-tax-changes/

Could your company be affected by a Companies House strike-off? 📋 Total Books has looked into a recent Companies House u...
14/10/2026

Could your company be affected by a Companies House strike-off? 📋 Total Books has looked into a recent Companies House update that changes how objections to a company being struck off the register will need to be submitted from 1 December 2026.

From this date, objections will need to be submitted through the Companies House online service, rather than by email. While this may seem like a small procedural change, it is important to understand what it means if you are a director, creditor, shareholder or another party with a legitimate reason to object.

For example, you may need to raise an objection if a company owes you money or there is an ongoing legal claim involving the business. You’ll also need to provide supporting evidence, such as invoices or other relevant documents, to explain why the company should not be struck off.

Companies House has advised that objections need to be made before the company is removed from the register, so understanding the process early can help avoid unnecessary complications.

For business owners, it’s also a good reminder that keeping your company records, accounts and Companies House responsibilities up to date should never be left until the last minute.

At Total Books, we help businesses stay on top of their accounting and compliance responsibilities, giving you one less thing to worry about.

👉 Read the full Companies House update: https://www.gov.uk/government/news/objections-to-company-strike-off-to-be-submitted-online-only-from-1-december-2026

There was a time when you could put “sort out the tax” on your calendar once a year and forget about it for another 12 m...
14/10/2026

There was a time when you could put “sort out the tax” on your calendar once a year and forget about it for another 12 months. 📅😂

Then Making Tax Digital arrived.

For qualifying self-employed individuals and property landlords, MTD for Income Tax introduces a more regular approach to keeping financial records and reporting information to HMRC.

Instead of one big annual scramble, quarterly updates mean your bookkeeping needs attention throughout the year.

January arrives. You check your calendar.

Tax deadline.

Another date arrives.

And suddenly your calendar looks like it has developed a personal vendetta against you. 😂

But regular bookkeeping can also give you a clearer view of your income, expenses and financial position.

For landlords, it can make it easier to keep track of rental income and property-related expenses before they become a mountain of paperwork.

At Total Books, we help landlords and self-employed clients navigate bookkeeping, tax and Making Tax Digital.

Because we'd much rather see you prepared for your tax deadline than running towards it with a calculator in one hand and receipts in the other. 🏃‍♂️😂

Find out more: https://bit.ly/4i2rmUk

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Alexandra Gate, Alexandra Gate Business Centre 2, Ffordd Pengam
Cardiff
CF242SA

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