Accountancy Services for Businesses, Sole Traders, Start Ups, Performers, Artists & Alternative Therapists
(01455) 619992

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

Share This Post

Disclaimer

All content and information on this website is for information purposes only, and it does not constitute accounting advice and does not establish any kind of accounting-client relationship by your use of this website. An accounting-client relationship with you is only formed after we have expressly entered into a written agreement with you that you have signed including our fee structure and other terms to represent you in a specific matter. Although we strive to provide accurate general information, the information presented here is not a substitute for any kind of professional advice, and you should not rely solely on this information. Always consult a professional in the area for your particular needs and circumstances prior to making any professional, legal, accounting and financial or tax related decisions.

Red Tulips Chartered Accountants do not take any responsibility for links used within this website for external internet sites. We will not accept any responsibility for any information contained on those external sites or viruses arising from any link to a third party website. 

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.

Related Posts

Why choose a Chartered Accountant ?

person
Sasha Owen
5 Reasons to use a Chartered Accountant Before choosing your accountant Unless a member of the ICAEW ( Institute of Chartered Accountants) or qualified with another professional body, anyone can call themselves an accountant, even if they have no professional…
READ MORE
keyboard_arrow_up