Sherwin Currid: Your Trusted MTD Accountant

What is MTD? 

Making Tax Digital, also known as MTD, represents a major change for tax compliance in the UK. 

By ‘making tax digital’, HM Revenue and Customs (HMRC) intends to collect more information when taxpayers file their returns. As well as filing a summary of their income and tax computation, taxpayers will be required to submit the underlying financial records to support the calculations. For more information about the requirements that are coming with MTD click here to be taken to the government website.

This means it is more important than ever that taxpayers get expert accounting advice to help them manage their tax affairs, file tax returns accurately, and declare tax correctly. Sherwin Currid can support you on your journey with MTD, from signing up to filing, and help you keep on top of your additional compliance obligations while reducing your admin.

Making Tax Digital For VAT 

From April 2022, MTD is mandatory for all VAT registered businesses. When it was first introduced it was only required for businesses with turnover above a given threshold, but now MTD for VAT is compulsory for any business with a VAT number, even if they have registered for VAT voluntarily. 

As part of the regime, HMRC is removing VAT return filing capabilities from its government gateway website. Instead, VAT returns must now be filed using MTD software. 

Having a dedicated accountant at Sherwin Currid can help your business stay on top of its MTD for VAT duties, avoiding errors, late submissions and penalties from HMRC. 

Choosing the best MTD software 

Sherwin Currid can help you identify which is the most suitable MTD software for you or your business. We will take into account how comfortable you are using computers, how you prefer to keep your records, and if you would like to use our bookkeeping service or manage your own. 

Bridging software 

This is a temporary solution for clients that prefer to keep paper records or spreadsheets. We can help you file MTD returns in a compliant way for HMRC, by converting your paper records or spreadsheets into an electronic tax return. HMRC has indicated that eventually records will need to be filed on cloud based software and we can help you with this transition smoothly, when it later becomes mandatory.

Cloud accounting software 

If you are happy for your bookkeeping records to be kept in software such as Xero, Quickbooks or FreeAgent, this is ideal as this compatible software enables MTD returns to be filed directly to HMRC. We can help you with the bookkeeping or we can check your returns before they are filed, to give you peace of mind that they are accurate and submitted on time, to avoid you missing deadlines and receiving a late penalty from HMRC. 

MTD for Income Tax Self Assessment

As of April 2026, HMRC is expanding MTD to cover Income Tax Self Assessment. 

Those affected in this phase of MTD include individuals with sole trade or property income over £50,000 – this amount is based on your income, not your profit (your income before expenses are deducted). From April 2027, this threshold will be reduced to £30,000. 

Whereas previously taxpayers could file details of their income annual on a Self Assessment tax return, MTD will require this information to be filed on a quarterly basis, as well as annually.

This means taxpayers affected by MTD will have a lot more reporting to do and frequent deadlines to be meeting. 

Working with Sherwin Currid will mean that we can take on this burden for you and save you time and hassle.

Making Tax Digital for landlords 

Individuals with property income over £50,000 will be required from April 2026 to file their income and expenditure every 3 months as well as on an annual basis. As of April 2027, this threshold will be reduced to £30,000.

We can manage MTD for landlords and help you make sure you are claiming your relevant expenditure to minimise your tax liability. 

Benefits of getting MTD ready 

The wide array of benefits afforded by cloud accounting software, by switching to software such as Freeagent, Xero or Quickbooks, can increase your productivity and simplify your business finances.

Cloud based accounting software greatly reduces the cost and and time invested in bookkeeping while improving the accuracy of your records and enabling you to make better business decisions. With real time insights into your financial position and access to one of our experts you can be sure to get the most out of using this software all while being MTD compliant.

Switching to compliant cloud software can also ensure that you reclaim VAT on expenses (if you are VAT registered) and can manage your payroll all from your mobile device. By centralising these important parts of running a business you can spend less time on accounting chores and more time providing services and growing your business.

Why Sherwin Currid as your MTD accountant? 

Here at Sherwin Currid we have always taken pride in providing our clients with the best service possible, that is why we have been supplying our clients with cloud accounting software for over 10 years.

Our team has a wealth of experience using MTD compliant software with a broad range of clients from small business owners to landlords and contractors. By keeping digital records our clients can get the most out of their personal accountant’s insights and advice as all the records are shared in real time. All clients who join Sherwin Currid are offered an initial consultation with their accountant who will guide them through setting up an account and answer any questions you may have.

We work with many different softwares such as FreeAgent, Xero and Quickbooks, amongst others, and will be happy to discuss the best software provider for you and your needs. By getting to grips with MTD compliant software and with the support of our experts you can ensure you remain compliant with any updates or changes to your requirements.