Calendar quarters election
The choice to run your Making Tax Digital update periods to calendar month ends instead of the tax year's dates. Standard periods start 6 April and end on the 5th (5 July, 5 October, 5 January, 5 April); elected calendar periods start 1 April and end 30 June, 30 September, 31 December and 31 March. Bookkeeping that already thinks in whole months tends to prefer them.
Three things to know. You select it in your software, per income source, before you send that year's first quarterly update. The deadlines don't move: 7 August, 7 November, 7 February and 7 May either way. And it sticks: gov.uk says calendar periods "will continue to apply unless you decide to change back to standard update periods".
Records ready for either calendar
SoleTax keeps every receipt, mile and invoice recorded as it happens, so your totals are ready whichever update periods you run. 14 days free, no card needed.
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