If your Turnover and or Income from Property was over £50,000 in the 2025 tax year then you need to start planning as this will come into play April 2026. From April 2027 if your Turnover and Income is between £30 - £50k you will need to be set up and then the last phase of Turnover and Income of over £20k will be April 2028.

Yes. We need to do four submissions during the year and then the final Tax Return, which will include any adjustments for the year end. This is still due by 31st January.

Absolutely. However, you will still need to abide by the deadlines to avoid penalties.

You will need some software, either bridging software from spreadsheets or, more beneficially for your bookkeeper, bank-linked software such as Xero, QuickBooks or Sage. It can also be a good opportunity to look at how you currently run some processes in your business.

We are here to support you and your business, meaning you can spend more time doing the things you are good at and what makes you money.

No, you can use a suitable Bookkeeper. Make sure they are insured and, if possible, regulated by a governing body.

No, they cannot. The software is a mirror of your bank transactions, to which only the user of your software has access.

No. It is simply to file a report to HMRC.

Yes, there will be penalties for late submissions.

They stay the same, with payments made in January and July.

Yes, but as I am also a small sole trader trying to support other small businesses, I will do my best not to jump on the trend of using this as an excuse to triple my charge. This will be personal to you, and I plan to try to charge monthly or quarterly for the work done, so there will be no unexpected costs at the end of the year.