You may have heard of Making Tax Digital for VAT ……….. this is Making Tax Digital for Income Tax and this will affect you if you are self-employed or a landlord from:·
  • 6 April 2026 if you have an annual business or property income of more than £50,000
  • April 2027 if you have an annual business or property income of more than £30,000
What does it means for you ?
HMRC will require Individuals and businesses to:
  1. Keep digital records
  2. Use software that works with Making Tax Digital
  3. Submit updates every quarter – (closer to REAL TIME)
This is currently being piloted with HMRC and we are already working with MTD compatible software such as Xero-Quickbooks-Sage-Freeagent.
If you have any concerns or questions please contact Worthwhile Accountancy