Making Tax Digital for Income Tax is a new way for sole traders and landlords to report their income and expenses to HMRC.
From 6 April 2026, sole traders and landlords must use it if their annual income from self-employment and property is over £50,000. From 2027 the threshold is £30,000.
You, or your agent (could be us), will need to use software that works with Making Tax Digital for Income Tax to:
• create, store and correct digital records of your self-employment and property income and expenses
• send your quarterly updates to HMRC
The quarters run from April – June, July – Sept, Oct – Dec & Jan – March. The filing deadlines are the month following and 7 days. i.e. April – June has to be filed by 7 August.
The quarters run from April – June, July – Sept, Oct – Dec & Jan – March. The filing deadlines are the month following and 7 days. i.e. April – June has to be filed by 7 August.
• submit your tax return and pay tax due by 31 January the following year
There is no need to worry as submissions do not generate quarterly bills they are only for information.
We are here to help so If you are interested in us helping you with MTD for Income Tax please give us a call 01502 574210 or through the Contact Us.
