Ep 324: Making Tax Digital - Do you know where you stand?

About this episode

The episode discusses the upcoming changes to Making Tax Digital for Income Tax and what UK doctors need to know to prepare.

For MTD advice and to ensure compliance, contact Azets here: https://hubs.la/Q04dwtwK0 Making Tax Digital for Income Tax: What UK Doctors Need to Know (MTD for Income Tax 2026) The Medics' Money podcast discusses Making Tax Digital for Income Tax (MTD for Income Tax), described as the biggest UK tax filing change for doctors since the late 1990s, with guests Adrian Cousens and Anita Holmes from specialist medical accountants Azets. They explain that from 6 April 2026, individuals with over £50,000 of combined qualifying turnover (sole trade/self-employment and rental income, based on 2024/25) must keep digital records using HMRC-approved software and submit four quarterly updates plus a final annual return, with the first quarterly deadline on 7 August 2026. Partnerships (including GP partnerships) and limited company income are not initially in scope, but GP partners may still be affected by outside sole trade or rental income; thresholds later drop to £30,000 and then £20,000. Key advice is to prepare early, consider moving from spreadsheets to software, manage new deadlines, and seek specialist advisor support. 00:00 MTD Big Change Intro 01:00 Meet The Experts 02:50 What Is…

People in this episode

Host: Medics Money

Guests: Adrian Cousens, Anita Holmes

Topics covered

• Making Tax Digital
• Income Tax
• UK Doctors
• Tax Compliance
• Digital Records
• Financial Advice

Keywords

• Making Tax Digital
• Income Tax
• UK Doctors
• digital records
• tax compliance
• quarterly updates
• financial advice

Sponsors

Azets

Mentioned in this episode

Organizations: Azets

Places: UK

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