From 06 April 2026, HMRC are introducing Making Tax Digital (MTD) for income tax. MTD income tax requirements will apply to those who receive gross income from self employment and / or property over a certain threshold.
- From April 2026, those with gross income of over £50,000 are mandated
- From April 2027, those with gross income over £30,000 are mandated
- From April 2028, those with gross income over £20,000 are mandated
This income threshold is based on total gross income from all self employment and property sources, not including employment or pension income. HMRC will review 2024/25 Self Assessment tax returns to identify who is in scope.
Under MTD for ITSA, affected taxpayers must maintain digital records of income and expenses, submit quarterly updates to HMRC, and file an end of year income tax return. The deadlines for quarterly updates are 7 August, 7 November, 7 February and 7 May following the end of the relevant quarter.
Get in touch if you’d like to talk through what this means for you.
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