20/04/2026
Do you still need to make the move to Making Tax Digital (MTD)
MTD for Income Tax began this year on April 6, 2026, for self-employed individuals and landlords with qualifying gross income over £50,000, requiring digital record-keeping and quarterly updates to HMRC via compatible software.
Thresholds drop to £30,000 in April 2027 and £20,000 in April 2028.
Key Requirements & Timeline :
Phase 1 (April 6, 2026): Mandatory for sole traders and property landlords with combined qualifying income over £50,000.
Phase 2 (April 6, 2027): Mandatory for those with income over £30,000.
Phase 3 (April 6, 2028): Mandatory for those with income over £20,000.
Reporting: Instead of one annual return, users must submit four quarterly updates, an End of Period Statement (EOPS), and a final declaration annually.
Digital Records: Transactions must be recorded digitally (no manual paper books) and submitted using HMRC-recognized software.
Get in touch for any further queries if this affects you..