News

HMRC are intending to write, from April 2025, to Sole Traders (Self Employed) and Landlords who may need to comply with Making Tax Digital for Income Tax (MTD for Income Tax) as at April 2026.

MTD is being implemented on the following basis:

·         From 06.04.2026 where annual turnover is >£50,000

·         From 06.04.2027 where annual turnover is >£30,000

·         From 06.04.2028 where annual turnover is >£20,000

Further advice on Making Tax Digital and the upcoming changes for Sole Traders and Landlords can be found here.

MTD means that affected taxpayers will need to file returns with HMRC on a quarterly basis. HMRC are still in the process of developing a MTD system and Foremans are developing and adapting software to process the returns. We will be in a position to report to HMRC under MTD as the deadlines are implemented.

HMRC are also currently running a test system referred to as “private beta testing” which taxpayers can join.

If you do receive a letter from HMRC regarding MTD we can review your potential eligibility and discuss any further steps.

Please do not hesitate to contact us if you wish to discuss the above or any other matter.