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Why Xero Is the Perfect Solution for MTD-ITSA

Making Tax Digital for Income Tax Self-Assessment (MTD-ITSA) is coming, and it’s set to change how self-employed individuals, including musicians, manage their finances. If you earn over £50,000 from self-employment, you’ll be required to keep digital records and submit quarterly tax updates to HMRC using MTD-compatible software from April 2026. Those earning over £30,000 will follow in 2027.


For musicians, this shift may feel daunting, but the right tools can make the transition smooth and stress-free. That’s where Xero comes in.



Why Musicians Need to Master Xero Before MTD-ITSA Arrives

Xero is a cloud-based accounting software that simplifies financial management for freelancers and small business owners. It allows you to:


  • Keep digital records – MTD-ITSA requires you to maintain digital records of income and expenses, which Xero does effortlessly.

  • Automate transactions – Link your bank accounts to Xero for real-time updates and easy categorisation of transactions.

  • Generate compliant tax reports – MTD-ITSA means quarterly tax submissions, and Xero helps you prepare and submit these without the hassle.

  • Manage invoices and expenses – Send invoices, track payments, and handle expenses efficiently.


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Preparing for MTD-ITSA with ‘Mastering Xero for Musicians’

To help musicians get ahead of these tax changes, I’ve created Mastering Xero for Musicians, a course designed to streamline your accounting processes. In this course, you’ll learn how to:


  • Set up your Xero account correctly

  • Customise your chart of accounts for your unique needs as a musician

  • Reconcile transactions quickly and accurately

  • Generate reports to track your finances in real-time

  • Ensure your tax records are MTD-ITSA compliant


By mastering Xero now, you’ll not only be ready for MTD-ITSA but also gain confidence in managing your finances, freeing up more time for what you love - making music!


Get Ahead of the Curve

Don’t wait until the deadline to start figuring out your finances. Mastering Xero for Musicians gives you the skills and confidence to handle your accounting with ease.


Sign up today and take control of your financial future before MTD-ITSA arrives!


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