Why use Andica MTD ITSA Software?
- MTD ITSA HMRC Recognised
- Multiple businesses and income sources
- Mandated and Non-mandated* income sources
- Amendments and Adjustments
*Non-mandated income will be introduced in future
Andica MTD ITSA is an Excel spreadsheet bridging software that enables Individuals and Sole Traders to link their Microsoft Excel spreadsheet containing transactions relating to Self Employment, UK property and Foreign property into the software and extract values in the relevant fields to submit quarterly updates digitally to HMRC.
Making Tax Digital for Income Tax Self Assessment (MTD for ITSA) requires businesses and landlords with qualifying income to maintain digital records and update HMRC each quarter.
MTD ITSA applies based on gross income before expenses, with mandatory compliance for those whose combined self-employment and property income exceeds the relevant threshold as set by HMRC. The threshold is as under
Covers self-employed individuals and landlords who exceed £50,000 in qualifying receipts.
Threshold lowers. All matching entities exceeding £30,000 are brought fully into scope.
Final rollout phase bringing additional sole traders and landlords into scope.
*Non-mandated income will be introduced in future