11/09/2026
The first Making Tax Digital for Income Tax quarterly submissions have been made. Over 436,000 sole traders and landlords successfully submitted their first quarterly update, with HMRC now signing up those who qualify, who have not yet signed up.
HMRC have announced that no penalty points will be issued for late MTD quarterly updates during the 2026/27 tax year. Penalties still apply for late tax returns and late payments.
Looking ahead, the Q3 MTD update deadline falls on 7 February 2027, just a week after the tax return deadline. With points-based penalties coming into force from 6 April 2027, now is a good time to get organised.
Sole traders and landlords with qualifying income over £50,000 in 2024/25 are required to use MTD in 2026/27. If you have not yet signed up and you qualify for MTD, HMRC have now signed you up. Sole traders and landlords with qualifying income over £30,000 in 2025/26 are required to start using MTD for the 2027/28 tax year.
If you are unsure whether Making Tax Digital applies to you, or you would like support getting ahead of upcoming quarterly update and tax return deadlines, click the link in the comments to get in touch with our team today.