In this episode Matthew, Katie and Lauren take a deeper dive into the positives and potential pitfalls of Making Tax Digital (MTD), as HMRC prepare to roll out phase one in April 2026. NOV2025 UPDATE - Since recording HMRC have confirmed that there will be no late submission penalties for quarterly updates during tax year 2026-27. This means that the first wave of taxpayers joining MTD in April 2026 won’t need to worry about being late with their quarterly updates, at least in their first year.The Ledger Lounge is hosted by Matthew Taylor , Katie Allan and Lauren Thompson from ⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠James Scott Accountants⁠ ⁠⁠⁠⁠⁠⁠⁠⁠⁠in Oldham, Greater Manchester. It is recorded at and produced by ⁠KUPOD Productions⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠, Oldham. Audio by Matt Dean with video by Eddie Corteen. The Ledger Lounge – Friendly DisclaimerEverything we chat about on The Ledger Lounge (and in these show notes!) is meant to be helpful, interesting, and easy to understand — but it’s not personal tax, accounting, financial, or legal advice. Everyone’s situation is different, so always speak to a qualified professional before making decisions based on anything you hear in the show.We do our best to keep things accurate and up to date, but rules and regulations can change. The views shared by our hosts and guests are just their own, so please don’t take them as official advice from any organisations we’re connected to.Basically: enjoy the conversation, learn something new, but don’t make big decisions without proper guidance!

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