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HMRC Testing Making Tax Digital for Income Tax Self Assessment from April 2024

Sasha Owen
Uncategorised

From April 2024 HMRC are Testing Making Tax Digital for Income Tax Self Assessment

From April 2026, Making Tax Digital (MTD) for Income Tax Self Assessment (ITSA) will require self-employed individuals and landlords with income over £50,000 to keep digital records and send quarterly updates to HMRC, using compatible software.

Those with an income over £30,000 will need to do this from April 2027.

Its a major change in the way self employed report to HMRC and my personal opinion is that HMRC still don’t understand the challenges ahead for the self employed. We are here to help and will be working with our clients over the next 12 months to ensure they are aware of the changes and guiding the through the whole process

 

Making Tax Digital, Self employment, tax for self employed, therapists

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Sasha Owen
Sasha Owen BSc FCA qualified as a Chartered Accountant in 1983 and has been in practice as an accountant since 1987. If you think Sasha has the conventional image of an accountant then you couldn’t be further from reality. Sasha is a Reiki Master, loves the arts, music and theatre; having been on stage herself and worked backstage she really does have a deep understanding and love for the arts and alternative therapy world.

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