No — quarterly updates don't replace your tax return
Quarterly updates are running summaries of income and expenses sent throughout the year — they are not a substitute for your year-end declaration. After the tax year ends, you still need to finalise your position (confirming other income, reliefs, and adjustments) before your tax bill is settled.
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.
Two separate obligations, not one
It's easy to assume that once you're submitting quarterly, the old "tax return" disappears. It doesn't — it changes shape. Instead of one big annual submission covering everything from scratch, you'll have already reported most of your business activity through the year via quarterly updates, then complete a final end-of-year step to confirm everything and account for anything not covered quarterly (other income sources, reliefs, adjustments).
Why this distinction matters
Treating your last quarterly update as "done for the year" is a real risk — missing the year-end step is still a compliance failure even if every quarterly update was submitted on time. HMRC's own guidance on this final step is worth reading directly.
Think of the four quarterly updates as building the picture piece by piece through the year, and the year-end step as the point where that picture gets finalised, checked, and turned into your actual tax position.
Frequently asked
Will my year-end step also be done digitally?
The direction of travel under MTD is toward digital finalisation as well, though the specific process and any separate software needs should be confirmed against current HMRC guidance.
What if I have income outside self-employment and property?
Other income (like savings interest or dividends) is generally accounted for at the year-end finalisation stage, not through quarterly updates, which are focused on your qualifying self-employment/property income.
Is there a separate deadline for the year-end step?
Yes — it's distinct from the quarterly update deadlines. Check HMRC's current guidance for the exact date that applies.
Read HMRC's official guidance ↗
Where quarterly updates and the year-end return fit together.
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While you're here, explore how it will work or read our Making Tax Digital guide.