Making Tax Digital (MTD) for Income Tax is now underway. Most self-employed individuals and landlords with qualifying income of more than £50,000 in the 2024/25 tax year were required to join the new regime from 6 April 2026.
Under MTD, businesses and landlords must keep digital records and submit quarterly updates to HMRC using compatible software. This represents a significant change from the previous system, where most reporting took place after the end of the tax year.
The first quarterly update for the 2026/27 tax year is due by 7 August 2026, so the deadline is now fast approaching.
To ensure your submission is completed accurately and on time, your records should be complete and up to date well before the deadline.
If A&C Chartered Accountants prepares your bookkeeping or submits your quarterly updates, please send us your records as early as possible. Leaving everything until the last minute increases the risk of delays, missing information and errors.
If you’re unsure whether Making Tax Digital applies to you, or you’re not certain what information you need to provide, please get in touch. We’re here to help you stay compliant and avoid any unnecessary stress.