Making Tax Digital for Income Tax – a disaster for small business?

So you know how you currently do your taxes once a year and you have 10 months to fill in your tax return? Well I’ve got bad news for you. You’ll soon need to send up to 5 tax returns per year, you’ll need to update HMRC every 3 months and you’ll be forced to buy special software that lets you do this. Welcome to the joys of Making Tax Digital for Income Tax Self Assessment (MTD ITSA)