Digital Boost for Beauty: MAKING TAX DIGITAL FOR BEAUTY PROFESSIONALS
Making Tax Digital For Beauty Professionals
Making Tax Digital (MTD) is part of the tax admin strategy - aiming to streamline tax processes and close the tax gap. Ria-Jaine Lincoln owner of The Beauty Accountant is launching a 12 months to MTD campaign, starting with an Online Masterclass, to ensure that the hair and beauty industry and those that service the industry are prepared for the changes.
So far all of those that engaged with a recent questionnaire said that they knew ‘a little’ about MTD and still they were currently using ‘Paper Based Accounting or Using Excel’ with little more than a year before the changes are due to take place.
With a large number of beauty professionals struggling to submit one tax return a year, Ria-Jaine has designed a 12 month roadmap to support beauty professionals in going Digital. This is something that has been a focus area for Ria-Jaine since the start of The Beauty Accountant with all clients having access to Quickbooks support, training and software and promoting cloud bookkeeping systems with regular monthly reminders and support.
MTD is going to be a huge shock to the systems but it can be used as a positive way to take charge of the numbers and use the technology available not only to report to HMRC every 3 months but to really start to strategically work on the numbers for cash flow, growth and tax planning.
The latest changes will affect self employed businesses.
Sole Traders will be required to;
Keep digital records
Use software that works with MTD
Submit updates every quarter - that means 5 submissions a year as opposed to doing one tax return a year.
When do these changes come into effect?
The changes come into effect by the 6th April 2026 for sole traders with an annual business or property income of more than £50,000, and April 2027 where annual business or property income is more than £30,000.
If you haven’t set yourself up for this change,Ria-Jaine is ready to help you.
Check out the new free guide for making tax digital powered by Quickbooks that will be helpful for self employed business owner’s.
The MTD Masterclass is 02 February Online @ 8pm
The link to secure your space on the masterclass is below
Live masterclass, with replay guiding you through the changes to ensure that small business owners can manage the change from 1 submission to 5 with ease.
Bookkeeping software at a mega discount fixed for up to 2 years worth over £600. Included in the masterclass for the rest of the tax year, no obligation to sign up for the discount but the trial is definitely worth a go!
1:1 Software set up, training and support.
Exlusive tips and tricks on how to set up a bookkeeping system not only for MTD but to help budget for tax and cash flow plan.
Exclusive offers for all sign ups for The Beauty Accountant Services and more.. all for a token payment of just £33!