02/04/2025
Date set for lowering the MTD for Income Tax mandation threshold to £20,000
The government is extending MTD for Income Tax to sole traders and landlords with income from trading and/or property over £20,000 from April 2028.
These customers will need to maintain records digitally and use MTD compatible software to submit in-year updates of their business income and expenditure, and their tax returns.
This follows on from the previously announced mandation timeline:
• those customers with a qualifying income over £50,000 will use MTD from April 2026
• those customers with a qualifying income over £30,000 will use MTD from April 2027
