CERTIFIED PRACTISING ACCOUNTANTS
MTD (Making Tax digital)
HM Revenue and Customs still have an intention to introduce quarterly reporting which will potentially affect many self employed individuals and those with property income. However the introduction has been pushed back to April 2026 and will now apply to those with income of £50,000 or above. The following year those with an income of £30,000 or above will also be included.
MTD is a requirement to keep records digitally and file quarterly from those records with HMRC and will ultimately replace the current Self-Assessment tax return. It does of course mean using accounting software for your records from the dates mentioned and you may like to speak to us before then to get systems in place that are compliant.
Please contact us if you have any concerns or would like some advice.
Please get in touch using the details below or via our contact us form.