Making tax digital is coming and despite previous delays, Chancellor Rachel Reeves confirmed in the April 2024 Autumn Budget that from April 2026 MTD for income tax will apply for self employed individuals or landlords with qualifying income over £50,000.
It is a phased approach for those with qualifying income over £30,000 affected in April 2027 and £20,000 in April 2028.
So how will that affect you?
– Records will need to be submitted digitally using HMRC approved software.
– You will submit 5 times per year – and not one.
– You will continue to receive one annual bill – only submissions are changing.
So, what do you need to do now?
Get in touch with us, we have a software only package, so you can simply use HMRC approved software to file your own returns, or if you prefer, we offer ongoing support for a low fixed monthly fee, allowing us to complete the 5 submissions per year for you.
Our team are ready for Making Tax digital and here to support you – are you ready?
