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HMRC will this month start automatically enrolling thousands of landlords, sole traders and small business owners into Making Tax Digital for Income Tax. Scottish accounting software firm FreeAgent says those affected should move now.
Only around 410,000 of an estimated 864,000 affected sole traders and landlords have registered for MTD for Income Tax, according to HMRC data.
One in seven UK sole traders say they understand nothing at all about HMRC's new quarterly reporting regime for Income Tax, according to research from the accounting software provider.
The Newcastle software group reported statutory operating profit up 17 per cent to £530 million for the year to 30 September.
