Making Tax Digital for Income Tax
in Woolwich, London
New way for sole traders and landlords to report their income and expenses to HMRC is through Making Tax Digital.
You will need to follow Making Tax Digital for Income Tax rules if you are an individual registered for Self Assessment and get income from self-employment or property, or both.
Get in touch today to find out more.
Making Tax Digital
From 6 April 2026, sole traders and landlords must use a compliant software it if their annual income from self-employment and property is over £50,000.
You will need to use software that works with Making Tax Digital for Income Tax to:
- This will be used to create, store and correct digital records of your self-employment and property income and expenses
- To send your quarterly updates to HMRC
- To submit your tax return and pay tax due by 31 January the following the tax year
- You will have to register with HMRC for self-assessment tax return
Who needs to sign up
April 2027
MTD for Income Tax will apply to self employed and property businesses earning over £30,000.
April 2028
MTD for Income Tax will apply to self employed and property businesses earning over £20,000.
Sole Trading – Income from self-employment
Property Income – Rental Income
Or getting income from self-employment and property
Have income of more than £50,000 from 6 April 2026
After signing up for Making Tax Digital
You will need to send in to HMRC quarterly updates
The update must be submitted using compatible software
Contact us for more
Quarterly updates for the 2026 to 2027
The quarterly update deadlines are:
- 7 August 2026
- 7 November 2026
- 7 February 2027
- 7 May 2027
Managing Your Tax Responsibilities
We provide an array of services for individuals, including quarterly making tax digital update, final tax returns and planning advice.