The phased mandate of Making Tax Digital (MTD) for Income Tax Self Assessment (ITSA) presents a complex challenge for accountants and bookkeepers who need to constantly adapt to the evolving landscape of tax regulations. But with the right tools and strategies in place, your accounting and bookkeeping practice can navigate these changes with confidence.
So, what would be the best way to optimise the MTD ITSA quarterly filings? We suggest adopting a robust workflow management system that offers complete visibility, control and automation like Glide. Below, we share the benefits of using a workflow management system and how it can empower you to ensure timely filings, enhance productivity and increase client satisfaction.
Benefits of a workflow management system
They offer a centralised platform
A workflow management system provides a centralised platform for highlighting clients’ trading and property income and other key details relating to ITSA that you may want to add as part of a customisable mini checklist. With Glide, you can create mini checklists against the client’s record or workflow system so you as an accountant or bookkeeper can ensure compliance with MTD regulations while ensuring your clients’ that fall into this category are effectively managed.
They’re capable of automation
Glide’s automation capabilities can help simplify the process of quarterly reporting and compliance. With dynamic merge fields and custom email/SMS communication with your clients, you can ensure timely requests for information are sent out automatically. By automating routine tasks and eliminating manual data entry, you can save time and focus on delivering value-added services to your clients.
They use real-time visibility
A workflow management system offers real-time visibility into client data, meaning you can track progress, monitor deadlines and identify potential issues proactively. For example, with Glide’s customisable dashboard and reporting options, you can optimise workflow management and ensure timely completion of your clients’ quarterly filings.
Using a workflow management system to prepare for future HMRC phases
As HMRC introduces the phased mandating of MTD for ITSA from April 2026, they are looking for agents and their clients to take part in the MTD ITSA testing: “From 22 April 2024, HMRC is carrying out further testing to ensure that when the system is launched in April 2026, it provides agents and their clients with the best experience.” (Source: Issue 117 of agent update – GOV.UK)
Therefore, by employing a workflow management system, you can proactively plan for future phases while having the ability to adjust workflows and processes to meet regulatory requirements. A customisable workflow management system provides built-in flexibility and scalability, allowing you to navigate regulatory changes with ease and maintain compliance for your clients.
It is important to note that the phased mandating of MTD for ITSA is expected to affect around 780,000 people with business or property income over £50,000 from April 2026, with additional businesses joining from April 2027. Despite associated costs, evidence suggests that digital record-keeping and automation can significantly improve businesses’ experience of managing tax affairs, reducing errors and enhancing productivity in the long run.
Final word: How Glide workflow management system can help
The landscape of tax regulations is constantly evolving, and accountants and bookkeepers face complex challenges in adapting to the phased mandate of Making Tax Digital (MTD) for Income Tax Self Assessment (ITSA). But, equipped with the right tools and strategies, you can confidently navigate these changes. Despite the costs associated with the phased mandating of MTD for ITSA, evidence suggests that digital record-keeping, workflow management and automation can significantly improve businesses’ experience of managing tax affairs, reducing errors and enhancing productivity for the long haul.
If you’d like to learn more about how Glide can help streamline your MTD ITSA quarterly filings, be sure to get in touch and we’ll be happy to arrange a call to discuss.
For upcoming webinars and live demonstrations check out this link to our website to register.
