What is an End of Period Statement?
Making tax digital for income tax or MTD for ITSA is the name HMRC give to their programme which is tasked with digitally updating the self assessment tax return system.
As part of MTD for ITSA HMRC will require an end of period statement or EOPS to be submitted.
It must be submitted for each source of business income you have.
For example if you are landlord and have self employed business income at the same time you will need to submit one EOPS for your rental income and one for your other self employed business income.
The EOPS is compulsory and without it your business income for that period will not be finalised.
You can use our Making Tax Digital guide to find out more about MTD for ITSA.
What does an EOPS declare?
An EOPS allows you to make final accounting adjustments, claim tax reliefs and confirm the accuracy of the information you have submitted.
It is linked to the accounting period and lets you declare to HMRC that:
- Your business income is finalised.
- The information provided is accurate and to the best of your knowledge correct and complete.
HMRC uses the EOPS, your quarterly income and expenses submissions and final declaration to produce your tax calculation for that tax year.
When do you have to submit an EOPS?
The EOPS can only be submitted after the end of the accounting period and must be submitted online to HMRC by the 31 January following the end of the tax year.
If your EOPS is not received on time HMRC will normally impose a late filing penalty under the making tax digital penalty system.
How do I submit an End of Period Statement?
MTD for ITSA demands that the end of period statement is only submitted online using compatible HMRC approved software.
Who has to submit an End of Period Statement?
The government have confirmed that MTD for ITSA will apply to sole traders and landlords with an income of over £50,000 from April 2026.
Sole trader and landlord income of over £30,000 will need to be declared via MTD for ITSA from April 2027.
If your business income qualifies you for MTD for ITSA you will need keep digital accounting records which comply with MTD standards.
The EOPS has to be submitted in combination with quarterly reporting and a final declaration.
EOPS MTD for ITSA software
Making tax digital for ITSA needs you to submit your EOPS and other submissions to HMRC by using HMRC approved accounting software.
HMRC does not offer any accounting software to digitally store your accounts or make submissions under MTD for ITSA so you will need to find a MTD compatible third party software package.
HMRC has a list of HMRC MTD compatible software providers and includes basic information about it’s main features.
