Quarterly tax reporting: practical ways to stay ahead of the new deadlines

For many self-employed people and landlords, tax admin has traditionally been something that could be put off until the end of the tax year. A few months of paperwork here, a pile of receipts there, and then a rush to get everything organised before the filing deadline.

But with the introduction of Making Tax Digital (MTD) for Income Tax, that approach is becoming much harder to maintain.

One of the biggest changes is the introduction of quarterly tax reporting. Rather than waiting until the end of the year, affected taxpayers will need to keep digital records and submit updates to HMRC throughout the year.

The first quarterly update deadline is approaching for many taxpayers: 7 August 2026. So now is a good time to establish habits and systems that help make compliance easier. The good news is that a little organisation throughout the year can significantly reduce the stress and workload involved.

Why preparation matters

The biggest challenge many people face isn’t the reporting itself, it’s keeping their records organised.

It’s easy to let receipts accumulate in a drawer, postpone categorising expenses, or delay updating financial records until they become overwhelming.

When quarterly deadlines arrive, those small tasks suddenly become urgent.

By creating a simple routine now, you can avoid last-minute panic and make reporting far more manageable.

3 daily habits that save hours later

You don’t need to spend hours every day on bookkeeping. In fact, a few minutes can often be enough.

1. Record expenses as they happen

One of the most effective habits is dealing with receipts immediately.

Instead of collecting paper receipts and promising yourself you’ll sort them later, capture them as soon as you receive them. Whether that’s taking a photo, uploading them to software, or storing digital copies – handling them immediately prevents them being lost or forgotten.

2. Keep business and personal spending separate

Using separate bank accounts for business and personal transactions can make record-keeping much simpler.

When all business income and expenses flow through one account, it’s easier to identify transactions and reduces the time spent sorting through statements.

3. Make notes while transactions are fresh

Sometimes an expense isn’t obvious when you look back several months later.

Adding a quick note about why a purchase was made can save time and confusion when reviewing records before a quarterly submission.

Read more: What can I claim as an expense on my tax return?

5 weekly tasks to stay on top of your records

Setting aside 15 to 30 minutes once a week can prevent admin from building up.

During your weekly review, make sure that you:

1. Check that income has been recorded correctly
2. Upload any outstanding receipts
3. Review recent expenses
4. Make sure transactions have been categorised appropriately
5. Check for anything unusual or missing

Many business owners find that choosing the same day each week helps turn bookkeeping into a routine rather than a chore.

3 monthly checks that keep everything running smoothly

A monthly review allows you to spot issues before they become larger problems.

1. Review your income and expenses

Take time to look at your figures for the month. This helps to make sure records remain accurate and can also provide useful insight into how your business is performing.

2. Check for missing documents

Missing receipts or invoices can become difficult to track down months later. A monthly check gives you the opportunity to identify gaps while the information is still easy to find.

3. Prepare for upcoming deadlines

Looking ahead to future reporting deadlines helps avoid surprises and makes sure you’ve allocated enough time to complete submissions.

Reporting period	Quarterly update deadline
6 April – 5 July	7 August
6 July – 5 October	7 November
6 October – 5 January	7 February
6 January – 5 April	7 May

Some taxpayers may choose to use calendar quarters instead, which have different reporting periods and deadlines. Always check which reporting basis applies to your circumstances.

How to avoid a mountain of receipts

One concern many people have about Making Tax Digital is the idea of scanning hundreds of receipts.

The reality is that this only becomes a problem when paperwork is allowed to accumulate.

A few practical ways to avoid this include:

1. Photographing receipts as soon as you receive them
2. Requesting digital receipts where possible
3. Storing documents electronically rather than in paper folders
4. Uploading records regularly rather than waiting until quarter end
5. Creating a simple filing system so documents are easy to locate

The less paperwork you allow to build up, the easier quarterly reporting becomes.

Your quarterly reporting checklist

As each quarterly deadline approaches, work through the following checklist:

Income

• Record all sales and income
• Review bank transactions
• Investigate missing payments

Expenses

• Categorise expenses correctly
• Store receipts and supporting documents
• Check any unusual transactions

Records

• Update digital records
• Identify and correct any missing information
• Check software records match bank transactions where appropriate

Submission

• Review figures before submission
• Allow time before the deadline in case corrections are needed
• Keep confirmation records once submitted

Completing these checks regularly throughout the quarter means there’s often very little left to do when the deadline arrives.

Don’t wait until the deadline

One of the biggest lessons from businesses that have already embraced digital record-keeping is that consistency matters more than perfection.

You don’t need an elaborate bookkeeping process or hours of administration every week. What matters is creating simple habits that prevent tasks from piling up.

By spending a small amount of time each week keeping records up to date, you’ll be in a much stronger position when quarterly reporting deadlines arrive.

Making Tax Digital represents a significant change in how many self-employed people and landlords manage their tax affairs. But with the right systems in place, quarterly reporting can become a routine part of running a business rather than a last-minute scramble.

Starting now gives you the best chance to build those habits before the next deadline arrives.

More tax guides from Mike Parkes

• Making Tax Digital is live – vital next steps for the self-employed
• Making Tax Digital – mistakes to avoid
• Allowable expenses for landlords – what can you claim?