What is an End of Period Statement (EOPS)?

We explore what the End of Period Statement (EOPS) was, why it was removed, and what you need to do to comply with MTD ITSA rules.

What was the End of Period Statement?

If you’ve been following the MTD for ITSA legislation, you’ll know HMRC set out three separate parts: quarterly updates, an End of Period Statement, and a Final Declaration.

The EOPS was where you would finalise your business income for the period, make any final adjustments to your accounts, claim reliefs, and confirm the accuracy of your information.

Why was the End of Period Statement scrapped?

Following the 2023 Autumn Statement, the EOPS submission has been removed from ITSA criteria. The government acknowledged that many of the details covered in an EOPS were already captured by the Final Declaration – making it a duplication of efforts for taxpayers and tax professionals.

Prepare for MTD for Income Tax Today

The earlier you prepare, the easier you’ll find the transition to Making Tax Digital. Speak to your accountant or bookkeeper about signing up for MTD for ITSA early.

Stay up to date with the latest on MTD for ITSA by regularly checking our MTD for Income Tax resource hub, where we cover everything you need to know about MTD for ITSA, from how Self Assessment Tax Returns are changing to how MTD for ITSA will impact landlords.