Getting ready for your first quarterly update
Before your first quarterly update is due: confirm you're keeping digital records of every transaction (not periodic totals), confirm your software is genuinely MTD-compatible, know your exact reporting period and deadline, and do a final review of your records for anything obviously missing before you submit.
Regulatory information about Making Tax Digital for Income Tax, which applies to qualifying individuals with self-employment or property income — not to every business. It is not a description of Quarter Day's launch scope.
Before the quarter even starts
- Confirm you're actually in scope for MTD for Income Tax this year — see our qualifying income guide
- Choose and set up MTD-compatible software before your first reporting period starts
- Know your exact reporting periods and deadlines from HMRC's current guidance
During the quarter
- Record each item of income and each expense as it happens, not in a batch at the end
- Keep receipts or evidence attached to records where your software supports it
- Separate self-employment records from property records if you have both
Before you submit
- Review the period's totals for anything that looks obviously wrong or missing
- Confirm you're submitting for the correct period, not an adjacent one
- Submit before the deadline, not on it — leave room for a software issue
Frequently asked
What if I realise I made a mistake after submitting?
MTD-compatible software generally allows corrections to a previously submitted period — check your specific software's process, and HMRC's guidance on amending submissions.
Do I need to submit even if I had no income that quarter?
In general, yes — a nil update may still be required if you're within MTD and had no qualifying activity in a given period. Confirm against current HMRC guidance.
How long does a quarterly update actually take once records are up to date?
If your digital records have been kept properly through the quarter, submitting the update itself is meant to be a short, largely automated step — most of the real work is the ongoing record-keeping, not the submission.
Read HMRC's official guidance ↗
The process this checklist is preparing you for.
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