More than half of UK SMBs admit they're not ready for new digital tax deadline

Lloyds Bank confirms August 7 rule change 55% aren't prepared for

The bank has warned 55 per cent are not prepared for a new digital tax deadline from HMRC on 7 August.

More than half of UK SMBs admit they're not ready for new digital tax deadline

MTD affects UK SMBs and sole traders who earned more than £50,000 in revenue55%, or 475,000, are still unprepared for the upcoming August 7 submissionLloyds warns many business owners still see it as a major source of confusionMore than half (55%) of Britain's small businesses that are affected by the new Making Tax Digital (MTD) for Income Tax rules are not yet fully prepared for the first submission deadline on August 7 2026, new research has …

1 In 2 Small Businesses Unprepared For New Digital Tax Deadline

Lloyds Banking Group, 07/13/26