We are happy to announce that this update introduces Making Tax Digital for Income Tax (MTD ITSA) Foreign Property Businesses Quarterly Full Returns, further enhancements to the FRS 102 Revenue Recognition and Lease Accounting models for LLPs across all jurisdictions, and a new option to exclude the Accountant’s Report for Sole Trader templates.

These updates enhance compliance, improve reporting flexibility, and support evolving statutory requirements across multiple entity types.

MTD ITSA – Foreign Property Businesses Quarterly Full Returns

BrightAccountsProduction now supports Making Tax Digital for Income Tax (MTD ITSA) Quarterly Full Returns for Foreign Property Businesses.

This enhancement enables users to prepare and submit full quarterly returns for foreign property income, ensuring compliance with HMRC requirements while maintaining consistency with existing MTD ITSA workflows.

For more details, click Here

FRS 102 Revenue & Lease Accounting Enhancements – LLP Templates

Further enhancements have been introduced to support the updated FRS 102 Revenue Recognition and Lease Accounting models.

These updates include:

• Automated Operating Profit lease disclosures
• Enhanced Cash Flow Statement lease reporting
• Improved categorisation of lease expenses and cash flows
• Updated creditor presentation for lease liabilities

These changes improve transparency, ensure compliance with FRS 102 (2026), and reduce manual adjustments in LLP financial statements.

For more details, click Here

Sole Trader Templates – Option to Exclude Accountant’s Report

A new configuration option allows users to include or exclude the Accountant’s Report when preparing Sole Trader accounts.

This provides flexibility for engagements where a formal report is not required, helping produce cleaner and more relevant financial statements.

The option is available within the Compliance Database and can be easily toggled as needed.

For more details, click Here