Q1 update due: covers self-employment and property income 6 Apr to 5 Jul 2026.
Every quarter has a hard stop.
From April 2026, Making Tax Digital for Income Tax requires four quarterly updates plus a final declaration each year. Miss a deadline and you earn a penalty point. Hit four points and HMRC charges a flat £200. The clock above runs to the very next deadline so the date is never a surprise.
How close are you to a £200 fine?
Drop in your current point count and your filing track record. The simulator shows what one more late submission costs you.
Your situation
Live verdict
The 3-year cost, compared.
Live bars based on the track record you picked. Quarterly cadence, 12 submissions over 3 years.
Predictions use HMRC's published penalty regime. Wasted-time figure assumes 2 hours per quarterly submission. Subscription range reflects Sage Accounting Standard, QuickBooks Sole Trader and Xero Starter UK pricing, May 2026.
Stop watching the clock.
The free clock keeps the deadline in view. The Sole Trader Tax Workspace is the MTD-ready product behind it: an HMRC-shape income and expense template, a bridging-software shortlist, and a deadline feed for your calendar. Paid once, yours to keep.
Penalty Clock FAQ
Is £200 really the only fine?
£200 is the FIRST trigger at 4 points. Each subsequent missed deadline after that also costs £200. So if you keep missing while at 4 points, every miss costs you another two hundred until you go six consecutive quarters clean and the points reset.
Do penalty points expire?
Yes. Each point lasts 24 months from the date it was issued, IF you remain under the threshold (under 4 points). Once you hit 4 points, points reset only after six clean quarterly submissions.
How is this counter calculated?
Live JavaScript countdown from your browser clock to the next quarterly deadline (Q1: 7 Aug 2026, Q2: 7 Nov 2026, Q3: 7 Feb 2027, Q4: 7 May 2027, Final Declaration: 31 Jan 2028). Refreshes every second. Predictions use the discipline rate you select.
Can I embed this on my own site?
If you're an accountant or advisor and want this on your own site, email hello@externalos.com. We'll send embed code, no charge. Credit back to us at the bottom is the only ask.
Deadlines reflect the Making Tax Digital for Income Tax timetable as of April 2026: quarterly updates due 7 Aug, 7 Nov, 7 Feb and 7 May, with the final declaration on 31 January. The simulator uses HMRC's published points-based penalty regime. Educational tool, not tax advice. For your exact position, check gov.uk or speak to your accountant.