- A quarter of UK sole traders still see no benefit from MTD at all
- High-wage, digital workers and younger generations are more ready
- Business owners are “concerned about the time, complexity and cost of becoming compliant”
New research has claimed that UK landlords are actually more prepared for upcoming Making Tax Digital (MTD) requirements than sole traders, with as many as one in four (26%) sole traders surveyed by Wolters Kluwer seeing no benefit to MTD.
Four in five (80%) landlords are prepared, compared to just three in five (64%) sole traders – one in five self-employed people have taken no steps at all to prepare for the April 2026 milestone.
Wolters Kluwer revealed some of the finer details, suggesting lower wage earners and older workers are among the least prepared.
Are you ready for MTD?
Better forecasting and data analysis was revealed as one of MTD’s key benefits, although only 14% of sole traders agreed, compared to 40% of landlords. It’s the same with bookkeeping efficiency, with 40% of landlords agreeing that MTD will help, compared to 32% of sole traders.
Almost half (46%) see easier HMRC reporting as the biggest benefit, but Tax and Accounts Europe’s MD and EVP Bas Kniphorst explains how MTD can kick-start a much bigger process: “With the right support, MTD can become a catalyst for modernization and deliver better financial visibility and long-term resilience.”
Wolters Kluwer explained that office/digital roles are more ready than manual/customer-facing roles, that £50-250,000 earners are less ready than higher earners and that 18-44-year-olds feel more prepared than over-45s.
“What we’re seeing is that sole traders in particular are concerned about the time, complexity and cost of becoming compliant, which is holding many back from taking the next steps,” added Technology Product Management Associate Director Mohammed Sidat.
Although the MTD has been widely publicized ahead of its impending enforcement, the report still calls for further training and webinars, ongoing adviser support, clearer official guidance from HMRC and more affordable and easy-to-use software.
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