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Making Tax Digital will it affect me ?

Sasha Owen
Tax

HMRC are introducing MTD (Making Tax Digital).

What this means is that if you fall within the categories below you will have to keep your accounting records digitally on HMRC compliant  software and file quarterly returns to HMRC from your software.

So if you are self-employed or a landlord you will have to comply with MTD from:

6 April 2026 if you have an annual business or property income( sales) of more than £50,000

April 2027 if you have an annual business or property income ( sales) of more than £30,000

There is no guidance on how this will be measured but it would be fair to assume at this stage it will be based on the tax return for 2024/25 to 5 April 2025

We will be able to carry out this work for you using our new software and we will keep you up to date with any future changes as the deadlines and limits have already changed several times

income tax, Making Tax Digital, tax for self employed

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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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