Traders would like more help on digitalisation

Nearly half (45%) of UK sole traders said they feel unprepared for making tax digital (MTD) according to new research from IRIS Software Group.

The survey questioned 1 000 UK sole traders and while 55% of respondents said they feel prepared almost one in three (31%) admitted they had never even heard of MTD.

Many sole traders pointed to a lack of awareness around the changes with a third (34%) believing HMRC could have done more to inform them. Almost three-quarters (74%) of respondents would welcome more support and guidance from HMRC to help them navigate the changes.

Other respondents accepted they should be more aware but planned to research it when they found the time (32%).

Younger sole traders were more likely to feel ready for the forthcoming requirements with 37% of 25 to 34 year olds saying they were very...