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The countdown is on…Making Tax Digital for Income Tax (MTD ITSA) is coming soon!
From 6th April 2026, all self-employed individuals and landlords with combined income of more than £50,000 of qualifying income per tax year will be required to keep more digital records, update HMRC more frequently and submit quarterly digital tax returns.
Qualifying income being measured as the sales/revenue received, not the profit after expenses.
What is required of me?
Let’s get down to the details – to be compliant with MTD ITSA, you will be required to:
For more information, visit HMRC’s website on Making Tax Digital for Income Tax here.
When does this come into effect?
Making Tax Digital for Income Tax will be spilt into two phases.
Phase 1 will be based on the figures in the 2024/25 tax returns and will start as of 6th April 2026. This will be based on the 2024/25 tax returns having combined income of £50,000 or more.
Phase 2 will then be implemented as of April 2027 with the total qualifying income threshold lowering to £30,000 and will be based on the 2025/26 tax return figures.
How we can help
As your agent, we can complete your registration for MTD ITSA, once registration has opened.
We work closely with QuickBooks and can offer discounted prices for QuickBooks software.
We will also be looking to offer alternative software’s if QuickBooks is not applicable for you, and will confirm details of these in due course.
We also have excellent, highly trained employees with availability to assist you with your bookkeeping requirements, quarterly submissions and final digital return.
Get in touch
If you are a client with us, your client manager will be in contact to discuss how this impacts you in further detail in the coming months.
If you’re not a client and would like more information on how we can help make this transition as smooth as possible, please get in touch with one of the team.
