Footballer and commentator Gary Neville, is fronting a brand new marketing campaign for Sage geared toward sole merchants (Picture: SAGE/COVER IMAGES) This text incorporates affiliate hyperlinks, we are going to obtain a fee on any gross sales we generate from it. Be taught extra
Tons of of 1000’s of individuals might miss a serious tax deadline this yr as confusion grows over new HMRC guidelines.
New analysis reveals seven in ten sole merchants don’t perceive what they should do as the federal government rolls out Making Tax Digital (MTD) – and solely 37% know the primary deadline is on August 7.
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It additionally emerged solely 8% are utilizing software program to handle their tax information regardless of the brand new guidelines already being in pressure, in line with analysis by accounting software program firm Sage.
The corporate has teamed up with footballer and commentator Gary Neville, who’s fronting a brand new marketing campaign geared toward sole merchants within the development trade.
In a bid to boost consciousness of the looming deadline, the agency is handing out 10,000 free hello vis workwear objects together with jackets, polo shirts and work trousers to staff. They can even get entry to Sage Sole Dealer, the model’s free MTD appropriate accounting software program, in a bid to guard tradies each on and off the job.
Gary Neville mentioned: “There’s already sufficient admin stress on sole merchants attempting to run a enterprise everyday.
“Lots of people nonetheless don’t realise these tax modifications are coming, so that is about serving to tradespeople prepare with the proper assist and instruments earlier than the deadline hits.”
Beneath the modifications, sole merchants, together with landlords, incomes greater than £50,000 should preserve digital tax information and ship quarterly updates utilizing MTD-compatible software program in addition to a remaining finish of yr declaration as a part of the reporting course of. There are round 4.3million sole merchants within the UK.
Lisa Ewens, SVP product, small enterprise and accountants at Sage, added: “Many sole merchants are nonetheless unaware of how important this modification will probably be.
“Making Tax Digital is designed to modernise the tax system, however for a lot of companies the largest problem is solely figuring out what they should do subsequent.
“We needed to create a marketing campaign that cuts by, helps sole merchants perceive what is required from them and takes them to the locations the place they will get the assist.”
Sole merchants can declare their free hello vis work gear and entry to Sage Sole Dealer software program at www.sage.com/hi-vis forward of the MTD deadline.
Six key questions on Making Tax Digital – and how one can keep throughout the guidelines
What’s Making Tax Digital (MTD)? Making Tax Digital is a UK authorities initiative requiring eligible sole merchants and landlords to maintain digital information and submit tax updates utilizing MTD‑appropriate software program.
Who does MTD apply to? From 6 April 2026, sole merchants and landlords with gross revenue over £50,000 should adjust to MTD for Earnings Tax.
What modifications for sole merchants? As an alternative of 1 annual Self Evaluation return, affected sole merchants might want to preserve digital information, and submit quarterly updates to HMRC utilizing appropriate software program.
When is the primary MTD submission deadline? The primary quarterly MTD submission deadline for a lot of sole merchants is August 7.
Is MTD obligatory? Sure. MTD is a authorized HMRC requirement for these inside scope.
What’s MTD‑appropriate software program? MTD‑appropriate software program permits customers to maintain digital information and submit required updates on to HMRC in step with MTD guidelines.
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