06/10/2025
Are you a self-employed individual or a landlord? Important changes are coming with Making Tax Digital (MTD) for Income Tax. You’ll need to use software to keep digital records and send quarterly updates to HMRC.
Start dates:
⏱️Annual income over £50,000: April 2026
⏱️Annual income over £30,000: April 2027
⏱️Annual income over £20,000: April 2028
What is changing:
⚠️ You must use MTD for Income Tax compatible software to record your income and business expenses as you go through the year
⚠️ Quarterly updates need to be sent to HMRC electronically
⚠️ At the end of the tax year, this data and any other relevant information about your income and expenditure need to be finalised and then signed off with a Confirmation Statement.
What isn’t changing:
✅ The type of information you need to record (income and expenditure)
✅ Your Self Assessment tax ‘return’ at the end of the tax year
✅ When you need to pay your tax bill by.
Don’t wait until the last minute! We can help you with the transition, manage your quarterly updates, or handle the whole process for you. Contact us now for a smooth switch. The sooner we start, the better!
Get ready for the new way to record and report income to HMRC for sole traders and landlords.
