Nic Lonsdale calls on the accounting profession to abandon unnecessary jargon as sole traders and landlords face new digital tax responsibilities.
Accountants must take responsibility for the profession’s intimidating reputation and do more to make financial information understandable, according to Nic Lonsdale MAAT, founder of Ginger Bucks. Her comments come as hundreds of thousands of sole traders and landlords adjust to Making Tax Digital for Income Tax, which became mandatory on 6 April 2026 for those with qualifying annual income above £50,000.
HM Revenue & Customs estimates that 864,000 individuals fall within this first phase of the scheme, including 605,000 people with self-employment income, 118,000 landlords and 141,000 people receiving both types of income.
Those affected are now required to maintain digital financial records using compatible software and submit quarterly updates to HMRC. The first quarterly update deadline for many taxpayers within the initial rollout is 7 August 2026.
Nic believes the introduction of new reporting requirements makes clear, accessible financial guidance more important than ever. She said: “I don’t think people hate accountants. I think people hate feeling stupid. Somewhere along the way, our profession has forgotten that financial literacy isn’t a given.
Accountants spend years learning about debits and credits, tax legislation and accounting standards. We then sit in front of business owners and wonder why they don’t immediately understand what we are talking about. We use terms such as accruals, director’s loan accounts, deferred tax and capital allowances as though everybody should already know what they mean. They shouldn’t.
Our job isn’t to prove how clever we are. It is to make complicated subjects feel simple and give people the confidence to make informed decisions about their businesses.”
Making Tax Digital for Income Tax is being introduced in phases. It currently applies to qualifying sole traders and landlords with annual self-employment and property income above £50,000. The threshold will fall to £30,000 from April 2027 and £20,000 from April 2028.
Nic said accountants should not judge the quality of their service by how much information they have delivered, but by how much their clients have genuinely understood.
She added: “The best accountants don’t leave a meeting thinking, ‘I explained everything.’ They leave knowing that the client understood everything. That is a very different skill. With tax becoming increasingly digital, business owners are being expected to understand new systems, deadlines and responsibilities.
Accountants need to recognise that people may be worried about getting something wrong and explain the changes without making them feel embarrassed for asking questions. Business owners should feel able to ask what something means, even if they think it is a basic question. There should be no shame attached to not understanding accounting terminology. It is the accountant’s responsibility to communicate clearly.”
Nic established Ginger Bucks to provide proactive, reliable and jargon-free accounting advice to businesses. She believes a more approachable relationship with an accountant can help business owners understand their figures, plan confidently and identify potential problems before they become serious.
She concluded: “Accountancy should not feel like a foreign language. When clients understand their numbers, they are in a much stronger position to run and grow their businesses. Clear communication isn’t an optional extra. It is a fundamental part of doing the job properly.”
For more information about MTD and a no obligation call regarding accounting for small businesses, contact Nic Lonsdale via www.gingerbucks.co.uk.
ENDS
Notes to Editors
About Nic Lonsdale and Ginger Bucks:
Nic Lonsdale is an MAAT-qualified accountant and the founder of Ginger Bucks, an accountancy business providing proactive, jargon-free and reliable support to business owners. Nic has experience working across a variety of sectors, including with companies employing more than 500 people. Ginger Bucks was established to offer an approachable alternative to traditional accountancy services and help clients understand the story behind their numbers. For more information, visit www.gingerbucks.co.uk.
Sources:
HM Revenue & Customs estimates that 864,000 individuals fall within this first phase of the scheme, including 605,000 people with self-employment income, 118,000 landlords and 141,000 people receiving both types of income.
Those affected are now required to maintain digital financial records using compatible software and submit quarterly updates to HMRC. The first quarterly update deadline for many taxpayers within the initial rollout is 7 August 2026.
Nic believes the introduction of new reporting requirements makes clear, accessible financial guidance more important than ever. She said: “I don’t think people hate accountants. I think people hate feeling stupid. Somewhere along the way, our profession has forgotten that financial literacy isn’t a given.
Accountants spend years learning about debits and credits, tax legislation and accounting standards. We then sit in front of business owners and wonder why they don’t immediately understand what we are talking about. We use terms such as accruals, director’s loan accounts, deferred tax and capital allowances as though everybody should already know what they mean. They shouldn’t.
Our job isn’t to prove how clever we are. It is to make complicated subjects feel simple and give people the confidence to make informed decisions about their businesses.”
Making Tax Digital for Income Tax is being introduced in phases. It currently applies to qualifying sole traders and landlords with annual self-employment and property income above £50,000. The threshold will fall to £30,000 from April 2027 and £20,000 from April 2028.
Nic said accountants should not judge the quality of their service by how much information they have delivered, but by how much their clients have genuinely understood.
She added: “The best accountants don’t leave a meeting thinking, ‘I explained everything.’ They leave knowing that the client understood everything. That is a very different skill. With tax becoming increasingly digital, business owners are being expected to understand new systems, deadlines and responsibilities.
Accountants need to recognise that people may be worried about getting something wrong and explain the changes without making them feel embarrassed for asking questions. Business owners should feel able to ask what something means, even if they think it is a basic question. There should be no shame attached to not understanding accounting terminology. It is the accountant’s responsibility to communicate clearly.”
Nic established Ginger Bucks to provide proactive, reliable and jargon-free accounting advice to businesses. She believes a more approachable relationship with an accountant can help business owners understand their figures, plan confidently and identify potential problems before they become serious.
She concluded: “Accountancy should not feel like a foreign language. When clients understand their numbers, they are in a much stronger position to run and grow their businesses. Clear communication isn’t an optional extra. It is a fundamental part of doing the job properly.”
For more information about MTD and a no obligation call regarding accounting for small businesses, contact Nic Lonsdale via www.gingerbucks.co.uk.
ENDS
Notes to Editors
About Nic Lonsdale and Ginger Bucks:
Nic Lonsdale is an MAAT-qualified accountant and the founder of Ginger Bucks, an accountancy business providing proactive, jargon-free and reliable support to business owners. Nic has experience working across a variety of sectors, including with companies employing more than 500 people. Ginger Bucks was established to offer an approachable alternative to traditional accountancy services and help clients understand the story behind their numbers. For more information, visit www.gingerbucks.co.uk.
Sources:
- HM Revenue & Customs, Making Tax Digital for Income Tax business population statistics: https://www.gov.uk/government/statistics/making-tax-digital-for-income-tax-business-population-statistics/making-tax-digital-for-income-tax-business-population-statistics-commentary
- HM Revenue & Customs, Quarterly updates for Making Tax Digital:https://makingtaxdigital.campaign.gov.uk/quarterly-updates/
- HM Revenue & Customs, Find out if and when you need to use Making Tax Digital for Income Tax:https://www.gov.uk/guidance/find-out-if-and-when-you-need-to-use-making-tax-digital-for-income-tax
Media Contact:
Danielle Windecker-Hilton
Sycamore Communications
danielle@sycamorecommunications.co.uk
07704.763269
Danielle Windecker-Hilton
Sycamore Communications
danielle@sycamorecommunications.co.uk
07704.763269