{"id":3515,"date":"2026-04-02T02:02:00","date_gmt":"2026-04-02T09:02:00","guid":{"rendered":"https:\/\/www.wiki-living.com\/index.php\/2026\/04\/02\/making-tax-digital-is-here-and-many-accounting-firms-are-facing-huge-pressures\/"},"modified":"2026-04-02T10:13:19","modified_gmt":"2026-04-02T17:13:19","slug":"making-tax-digital-is-here-and-many-accounting-firms-are-facing-huge-pressures","status":"publish","type":"post","link":"https:\/\/www.wiki-living.com\/index.php\/2026\/04\/02\/making-tax-digital-is-here-and-many-accounting-firms-are-facing-huge-pressures\/","title":{"rendered":"Making Tax Digital is here &#8211; and many accounting firms are facing huge pressures"},"content":{"rendered":"\n<div id=\"article-body\">\n<hr id=\"elk-d364020b-04a9-455a-9e6b-84db15e30c60\"\/>\n<ul id=\"elk-f146e23f-ff26-45e7-8a91-b0dacd61ef57\">\n<li><strong>Businesses recognize the benefits of MTD, they just don&#8217;t have the time or money to implement it<\/strong><\/li>\n<li><strong>Data is the biggest obstacle right now, and quarterly reporting can emphasize that<\/strong><\/li>\n<li><strong>Bookkeeping software can be integrated with other business tools for cost efficiency<\/strong><\/li>\n<\/ul>\n<hr id=\"elk-c9969787-3171-4571-bce8-3285d55ffa6c\"\/>\n<p id=\"elk-16f6c5d2-c5b0-434a-9b68-df7716f5ab83\">With HMRC&#8217;s Making Tax Digital (MTD) rules set to come into widespread use this month, new research from Wolters Kluwer says the challenge is no longer understanding what is required of businesses &#8211; actually using MTD to the maximum extent.<\/p>\n<p>Data says anywhere between 50% and 69% of income tax clients still haven&#8217;t digitized their books, and there are no signs of improvement as we approach the deadline.<\/p>\n<aside data-block-type=\"embed\" data-render-type=\"fte\" data-skip=\"dealsy\" data-widget-type=\"seasonal\" class=\"hawk-root\"\/>\n<p id=\"elk-16f6c5d2-c5b0-434a-9b68-df7716f5ab83-2\">Since MTD mandates quarterly reporting, Wolters Kluwer is concerned that the initial deployment will expose some weaknesses in many of SMB&#8217;s technology stacks and data quality.<\/p>\n<p><span class=\"article-continues-below block py-2 text-sm\">The article continues below <svg xmlns=\"http:\/\/www.w3.org\/2000\/svg\" aria-hidden=\"true\" class=\"inline-block w-2.5 h-2.5 ml-2\" fill=\"currentColor\" preserveaspectratio=\"xMidYMid meet\" viewbox=\"0 0 1000 1000\"><path d=\"M1000 100L500 900 0 100h1000z\"\/><\/svg><\/span><\/p>\n<aside data-component-name=\"Recirculation:ArticleRiver\" data-recirculation-type=\"inline\" data-mrf-recirculation=\"Trending Bar\" data-nosnippet=\"\" class=\"clear-both pb-0 pt-2 mb-4\">\n        <span class=\"&#10;            flex&#10;            after:content-[''] after:flex-1 after:ml-4 after:my-[0.7rem] after:border-t after:border-solid after:border-t-[#ccc]&#10;            before:content-[''] before:flex-1 before:mr-4 before:my-[0.7rem] before:border-t before:border-solid before:border-t-[#ccc]&#10;            font-article-heading pb-0 !text-base uppercase sm:text-sm font-bold&#10;        \"><\/p>\n<p>            You might like it<br \/>\n        <\/span><\/p>\n<\/aside>\n<h2 id=\"many-businesses-still-aren-t-ready-for-mtd-3\">Many businesses are still not ready for MTD<\/h2>\n<p id=\"elk-465588b3-e7c6-4a91-806e-e1ca852527cb\">Although readiness is low, confidence in MTD objectives is very high \u2013 69% agree that it will benefit their business and 56% even see positive impacts for their customers.<\/p>\n<p>&#8220;The challenge is no longer whether firms understand what&#8217;s coming, but whether they can scale, especially when many income tax clients are not yet digitally empowered,&#8221; explains Associate Director of Product Management Mohammed Sidat.<\/p>\n<p>Currently, the main challenge is the basis &#8211; data quality and reconciliation (47%). Customer onboarding and migration (44%), client communications (43%) and software integration (43%) also top the list.<\/p>\n<p>Wolters Kluwer also notes continued differences, with younger customers under the age of 45 seen as more fit. On the other hand, there is still a choice of paper by 47% of the respondents.<\/p>\n<div id=\"slice-container-newsletterForm-articleInbodyContent-2f9SYPUaP7ZN4vngzu92yA\" class=\"slice-container newsletter-inbodyContent-slice newsletterForm-articleInbodyContent-2f9SYPUaP7ZN4vngzu92yA slice-container-newsletterForm\">\n<div data-hydrate=\"true\" class=\"newsletter-form__wrapper newsletter-form__wrapper--inbodyContent\">\n<div class=\"newsletter-form__container\">\n<section class=\"newsletter-form__top-bar\"\/>\n<section class=\"newsletter-form__main-section\">\n<p class=\"newsletter-form__strapline\">Sign up for the TechRadar Pro newsletter to get all the top news, ideas, features and guidance your business needs to succeed!<\/p>\n<\/section>\n<\/div>\n<\/div>\n<\/div>\n<p>Looking ahead to the new era of the MTD mandate, the report suggests that there are clear business opportunities in the financial and software sectors. Bulk compliance and bookkeeping software, workflow automation, and digital migration\/onboarding are all services that may be in high demand for change.<\/p>\n<p>As for those affected by MTD, the report reminds business owners to be mindful of the time-saving, bookkeeping and forecasting benefits that come with MTD, highlighting its long-term benefits. With 45% also concerned about cost, businesses are reminded that integrating MTD software with other key business tools can be more cost-effective than they think.<\/p>\n<hr id=\"elk-f46fd962-62fc-4af7-b21e-df595091f1a1\"\/>\n<p id=\"elk-cdd8e80c-0eee-49ee-a436-55c20a26cf98\"><em\/><em><strong>Follow TechRadar for Google news<\/strong><\/em>    again<em> <\/em><em><strong>add us as a favorite resource<\/strong><\/em><em>    to get our expert news, reviews, and opinions in your feed. Be sure to click the Follow button!<\/em><\/p>\n<p><em>And of course you can too <\/em><em><strong>follow TechRadar on TikTok<\/strong><\/em><em>    to get news, reviews, unboxings in video form, and get regular updates from us <\/em><em><strong>WhatsApp<\/strong><\/em><em>    again.<\/em><\/p>\n<\/div>\n\n","protected":false},"excerpt":{"rendered":"<p>Businesses recognize the benefits of MTD, they just don&#8217;t have the time or money to implement it Data is the biggest obstacle right now, and quarterly reporting can emphasize that Bookkeeping software can be integrated with other business tools for cost efficiency With HMRC&#8217;s Making Tax Digital (MTD) rules set to come into widespread use [&hellip;]<\/p>\n","protected":false},"author":1,"featured_media":3516,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[27],"tags":[],"class_list":{"0":"post-3515","1":"post","2":"type-post","3":"status-publish","4":"format-standard","5":"has-post-thumbnail","7":"category-smart-home-gadgets"},"_links":{"self":[{"href":"https:\/\/www.wiki-living.com\/index.php\/wp-json\/wp\/v2\/posts\/3515","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/www.wiki-living.com\/index.php\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/www.wiki-living.com\/index.php\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/www.wiki-living.com\/index.php\/wp-json\/wp\/v2\/users\/1"}],"replies":[{"embeddable":true,"href":"https:\/\/www.wiki-living.com\/index.php\/wp-json\/wp\/v2\/comments?post=3515"}],"version-history":[{"count":1,"href":"https:\/\/www.wiki-living.com\/index.php\/wp-json\/wp\/v2\/posts\/3515\/revisions"}],"predecessor-version":[{"id":3517,"href":"https:\/\/www.wiki-living.com\/index.php\/wp-json\/wp\/v2\/posts\/3515\/revisions\/3517"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/www.wiki-living.com\/index.php\/wp-json\/wp\/v2\/media\/3516"}],"wp:attachment":[{"href":"https:\/\/www.wiki-living.com\/index.php\/wp-json\/wp\/v2\/media?parent=3515"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/www.wiki-living.com\/index.php\/wp-json\/wp\/v2\/categories?post=3515"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/www.wiki-living.com\/index.php\/wp-json\/wp\/v2\/tags?post=3515"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}