Making Tax Digital

Big Changes Are Coming to the Way You File Your Taxes

From April 2026, HMRC is changing how millions of people report their income. Here’s what it means for you.

Making Tax Digital (MTD) is a new government initiative to modernise the tax system. Instead of submitting one Self Assessment tax return each year, affected customers will need to keep digital records of their income and business expenses and send quarterly updates to HMRC using approved software.  The annual tax return will still also need completing as normal.

Who will it affect?

From April 2026:

  • Self-employed individuals and landlords with combined income over £50,000

From April 2027:

  • Self-employed individuals and landlords with combined income over £30,000

What will I need to do?

  • Start keeping digital records of income and expenses (paper records will no longer be allowed)
  • Submit quarterly updates, instead of one annual tax return
  • Review your income and expenses before the deadline to avoid penalties

We’re already exploring the best options to make the changes as simple as possible for you. You don’t need to do anything right now. We’ll be in touch soon to confirm if you’re affected and guide you every step of the way.

FAQsFrequently Asked Questions

Here you'll find the answers to some of the most frequently asked questions about Making Tax Digital.

 

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