What changes
Making Tax Digital for Income Tax requires affected sole traders and landlords to keep digital records and submit updates using compatible software. The point is not only a new filing format. It is a change in rhythm.
Compliance moves from annual reconstruction to continuous evidence.
Why risk intelligence cares
Poor records create tax risk, credit risk, and onboarding risk. A regulated firm looking at an individual or small business needs confidence that income, trading history, and records match the story being presented.
What to do now
Keep records close to the transaction. Reconcile regularly. Preserve evidence in a way that can be shared with an adviser, bank, investor, or counterparty when required.