MTD ITSA guidance updated following Budget
The Budget contained announcements regarding the rollout of Making Tax Digital for Income Tax Self-Assessment (MTD ITSA). The corresponding HMRC guidance has now been updated. What’s the latest position?
The current timetable for mandating into MTD ITSA is as follows:
- April 2026 for sole traders and landlords with income over £50,000; and
- April 2027 for those with income over £30,000
When this was announced, the previous government said it would consult on the position for those with incomes below £30,000 to ensure MTD was suitable. The Autumn Budget confirmed that the threshold will drop to £20,000 by the end of the current parliament (likely 2029), but for now there is no indication of which year this will apply to. HMRC’s guidance has been updated to reflect this.
Related Topics
-
P46 (car) submission deadline
-
Deadline to file paper self-assessment returns
-
MONTHLY FOCUS: TAX PLANNING FOR MARRIED COUPLES (TRADERS AND COMPANIES)
Married couples have been taxed separately rather than as a unit since 1990. There are a number of strategies married couples (and civil partners) can adopt to save tax. This Monthly Focus looks at business-related income planning.
This website uses both its own and third-party cookies to analyze our services and navigation on our website in order to improve its contents (analytical purposes: measure visits and sources of web traffic). The legal basis is the consent of the user, except in the case of basic cookies, which are essential to navigate this website.