- A quarter of UK sole traders still don’t see any benefits to MTD at all
- Higher earners, digital workers and younger generations are more ready
- Business owners are “concerned about time, complexity and cost of becoming compliant”
New research has claimed Britain’s landlords are actually more prepared for upcoming Making Tax Digital (MTD) requirements than sole traders, with as many as one in four (26%) sole traders surveyed by Wolters Kluwer seeing no benefit to MTD.
Four in five (80%) landlords are prepared, compared with just three in five (64%) sole traders – one in five self-employed workers haven’t taken any steps at all to prepare for the April 2026 milestone.
Wolters Kluwer uncovered some of the finer details, suggesting that lower earners and older workers are among the least prepared.
Are you ready for MTD?
Better forecasting and data analysis was uncovered as one of MTD’s key benefits, though only 14% of sole traders agree compared with 40% of landlords. It’s the same with bookkeeping efficiency, with 40% of landlords agreeing MTD will help compared with 32% of sole traders.
Nearly half (46%) see easier HMRC reporting as the main benefit, but Tax and Accounting Europe MD and EVP Bas Kniphorst explains how MTD can kickstart a much bigger process: “With appropriate support, MTD can become a catalyst for modernization, delivering better financial visibility and long‑term resilience.”
Wolters Kluwer explained that office/digital roles are more ready than manual/customer-facing ones, that £50-250k earners are less ready than higher earners, and that 18-44-year-olds feel more prepared than over-45s.
“What we’re seeing is that sole traders, in particular, are concerned about the time, complexity and cost of becoming compliant, which is holding many back from taking the next steps,” Technology Product Management Associate Director Mohammed Sidat added.
Though MTD has been widely publicized ahead of its impending enforcement, the report still calls for further training and webinars, ongoing advisor support, clearer official guidance from HMRC and more affordable and easy-to-use software.
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