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Mum and Son On The Money | Episode 10 | Making Tax Digital Explained – Are You Ready for the New Rules?
Mum & Son On The Money Podcast
Thursday, 22 October 2026 - 48 minutes
Making Tax Digital is changing the way sole traders and landlords manage their finances, with thousands more people set to be affected as the rules expand. But is it really as complicated as it sounds?
In Episode 10 of Mum and Son on the Money, Chris is joined by Travus from Happy Days Accountants in the studio, while Lorraine joins the conversation remotely from Thailand, proving just how much modern technology has changed the way we can work.
This month, they're tackling Making Tax Digital (MTD), explaining what the changes mean for small business owners, how the system works and why the £30,000 income threshold coming in April 2027 will bring many more people into the scheme.
They discuss quarterly updates to HMRC, accounting software such as Xero and FreeAgent, the options available to people who prefer spreadsheets, and why keeping your bookkeeping up to date can make life considerably easier.
Chris shares his own experience of submitting figures through FreeAgent, while Travus explains why digital accounting isn't just about complying with HMRC. Having an accurate picture of your business finances can help you make better decisions, plan ahead and avoid unwelcome surprises.
They also explore what happens if you miss a submission deadline, why retaining digital copies of receipts is so important, and how Happy Days Accountants can help businesses make the transition.
Away from the numbers, Lorraine celebrates being shortlisted for two AAT awards, shares her experiences of working remotely and running in the heat of Thailand, and discusses the family's increasingly complicated Christmas present traditions.
There are also half-marathon training plans and a memorable visit to a Thai football match. Whether you're already using digital accounting software or still keeping your records in a spreadsheet, this episode offers practical advice and reassurance about the changes ahead.
Mum and Son on the Money, with Lorraine and Travus from Happy Days Accountants – making business finances easier to understand.
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