Sherwin Currid: Your Making Tax Digital Accountant
Tax Advice
Sherwin Currid: Your Making Tax Digital Accountant
Sherwin Currid offers expert advice on Making Tax Digital. We can help you sign up for MTD,choose the right software and file compliant tax returns.
What is Making Tax Digital?
Making Tax Digital, also known as MTD, is a government initiative designed to simplify tax reporting and improve accuracy of financial records.
Under MTD, HM Revenue and Customs (HMRC) intends to collect more information, more frequently from individuals and taxpayers for all types of taxation. MTD for VAT was the first stage of this and it is followed by MTD for Income Tax which will be phased in from April 2026. Corporation tax will be introduced for companies at a later date.
These changes mean it is more important than ever for individuals and businesses to get expert accounting and tax advice to help them manage their tax affairs, file 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.
Expert MTD accountants
At Sherwin Currid we have always taken pride in providing our clients with the best service possible. We offer comprehensive VAT and Income Tax support to ensure that you meet your reporting requirements and stay compliant with HMRC. All of our clients have a dedicated accountant who is on hand to support you with all of your accounting and tax needs, including MTD.
As well as being highly qualified and experienced accountants, our team has a wealth of experience with MTD compliant software across a broad range of clients from small business owners to landlords and contractors. By using cloud accounting software our clients get the most out of their personal accountant’s insight and advice with all financial records shared in real time. All of our clients at Sherwin Currid are offered an initial consultation with their accountant who will answer any questions and provide guidance on registering and using software.
We work with many different providers 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.
How Sherwin Currid can help you
At Sherwin Currid, we do more than just give advice, we support you at every step with your MTD needs.
We will help you set up your cloud accounting software and take care of all your HMRC submissions. The team works with a variety of HMRC-approved software and can offer guidance with your bookkeeping and tax efficiency. By using Sherwin Currid, you can spend more time focussing on your business while we deal with your accounting and tax affairs.
You can read more about our MTD services below or on our pages for MTD for VAT and MTD for Income Tax.
Sherwin Currid Directors
Our founding directors, Martyn Currid and Max Sherwin, set up Sherwin Currid to help freelancers and small businesses with accountancy. Since then we have grown to look after a wide range of clients while keeping our personal, professional service.
Our Client Testimonials
Some of our clients have been kind enough to leave us reviews of our accountancy services. Don’t just take our word for it, read some testimonials to see how we help people with their business and personal tax.
Accountants for Making Tax Digital for Income Tax
We offer a comprehensive service to landlords and the self employed who need to make MTD IT submissions to ensure that you meet your filing deadlines and remain compliant with HMRC.
We know that the transition to Making Tax Digital for Income Tax can seem overwhelming, especially if you have not used cloud accounting software before. Our accountants are on hand to help guide you through using software and ensuring that your bookkeeping is up to date for your sole trade or rental business. We work with a variety of software providers and can advise you on the best fit for your needs.
Our team of specialists will also be able to advise you on your tax position, efficiency and any allowable expenses, ensuring that you are trading tax efficiently. We offer guaranteed turn around times and unlimited support from your dedicated accountant, so you know that your needs will be dealt with in a timely manner.
We also take care of your other sources of income such as PAYE, capital gains and dividends. With Sherwin Currid, your accountant will handle the whole tax return process for you, relieving you of tedious computations each accounting period and ensuing you pay the correct amount to HMRC.
If you wish to discuss how we can help you meet the new MTD requirements please get in touch to arrange an initial consultation.
Accountants for Making Tax Digital for VAT
In our team we have VAT experts that are ideally suited to help small business owners and contractors with all of their tax compliance and filings including MTD for VAT. We adopted cloud accounting software years before it was mandatory as we believed it was the easiest way for our clients to stay on top of their finances. We offer online bookkeeping software such as FreeAgent as part of our standard accountancy packages and are also extremely practiced in other software such as Xero and Quickbooks.
All of our clients are allocated a dedicated, personal accountant based on their specific needs who can offer expert guidance on compliance, software integration, and more. Our experts have a wide variety of experience across many sectors from ecommerce to construction to IT contractors and landlords.
If you would like to arrange a consultation to discuss how we can help you with your VAT reporting and other compliance requirements please get in touch to arrange an initial consultation.
Choosing the right MTD Software
Choosing the right compatible software for MTD requirements is important to ensure a smooth transition to MTD reporting. At Sherwin Currid, our team will help you pick the best accounting software for you. The right MTD software should have these key things to help you with your record keeping:
- HMRC approval: HMRC have compiled a list of approved software for MTD IT which you can view here.
- Real time bank feed: You should be able to link your business bank account straight to your bookkeeping records. This lets you bring in your bank payments and records automatically.
- Multi-stream record keeping: The software should let you keep digital records for each of your income sources.
- Quarterly reporting
If you would like to speak to one of our team about choosing the right software please do get in touch to arrange an initial consultation.
What is Making Tax Digital for Income Tax (MTD IT)?
Making Tax Digital (MTD) for Income Tax is the next step in the government’s plan to make UK tax system reporting simpler and more accurate for individuals. From April 2026 qualifying individuals will need to report their personal income through compatible commercial software and comply with new rules.
Under MTD IT the current Income Tax Self Assessment regime will be replaced with 4 quarterly submissions throughout the year and a final declaration made by the 31st January the following year, the same final deadline as online self assessment is currently. Individuals will need to keep digital records and submit their quarterly updates through compliant bookkeeping software. There will be separate quarterly updates due to each type of income and it is important to stay on top of these to avoid penalties.
Who needs to comply with MTD IT?
From April 2026 Making Tax Digital for Income Tax will be phased in for landlords and sole traders with gross income above £50,000. This taxable turnover threshold will decrease to £30,000 in 2027, and drop further to £20,000 in 2028. The testing phase for MTD IT began in April 2025 but was not mandatory.
The thresholds are based off the total turnover in the tax year from all rental and self-employed income, including foreign property income as well as UK rental income. Even if you do not earn more than the threshold from one of these sources alone it is important to know the level of your income from each of these qualifying sources as it is the total amount that decides if you are obliged to enrol in MTD IT.
If you think that you need to enrol for MTD IT please get in touch to arrange a free, no obligation, consultation with one of our MTD experts.
What is Making Tax Digital for VAT?
Making Tax Digital (MTD) for VAT is an HM Revenue & Customs (HMRC initiative that requires VAT registered individuals and businesses to keep digital records and submit VAT returns using compatible software approved by HMRC. The aim of the whole MTD system is to make tax administration more efficient and reduce reporting errors and MTD for VAT was the first phase of MTD. MTD for VAT came into effect for all businesses registered to pay VAT from April 2022 and it is now compulsory to file your quarterly returns through cloud software or make use of bridging software to file online.
If you own or manage a VAT registered business Sherwin Currid can help you ensure that you are compliant with HMRC’s rules and that you pay the correct amount of VAT.
Support with MTD VAT
Our VAT team gives you comprehensive support and guidance for your VAT submissions. We can register you for VAT and introduce you to digital record keeping to ensure you keep accurate records. Your dedicated accountant will be on hand to provide help with your VAT and bookkeeping queries, ensuring that you are paying the right amount to HMRC.
We will prepare and review your VAT returns in a timely manner and ensure you meet your filing deadlines. If your business is growing we can also advise you on when you are approaching the VAT threshold to register for VAT and if you are more suited to reporting on the standard scheme or the Flat Rate Scheme.
MTD compatible software
At the centre of Making Tax Digital is the requirement to use compatible accounting software packages to track and report your income and expenses. No longer can you make use of a spreadsheet to track your income and expenses, the records must be kept digitally.
Choosing the right software for you is important and our team can advise you on the benefits and drawbacks of various providers. We also offer a bookkeeping service so you can rest assured that your digital tax records are being kept up to date.
We work with a variety of providers and have outlined a couple of the most popular choices for VAT and IT below.
FreeAgent
At the centre of Making Tax Digital is the requirement to use compatible accounting software packages to track and report your income and expenses. No longer can you make use of a spreadsheet to track your income and expenses, the records must be kept digitally.
Xero
One of the most popular options for small businesses, Xero offers easy scalability and inventory tracking as well as finance tracking and reporting. This is the ideal software for SMEs that want to utilise advanced reporting functions.
Xero also has introduced MTD IT filing software which is HMRC approved and offers sole traders and landlords a comprehensive bookkeeping software that easily integrates with document capture software such as Dext and Hubdoc.
What accounting software should you use?
The decision on which is the best software to use depends on many factors, including the size of your business, how your transactions are undertaken (are they still manual or are they automated), how you want your records structured for reporting purposes e.t.c. Sometimes a combination of products may provide the best solution, as some products such as Dext are designed to be connected to the main software.
The cost of the solution is also a consideration, however we can often bundle the product with the provision of accounting services and given the efficiencies to all parties of working with these products, the overall cost of accounting services can be reduced.