Here are the key points:
Here are the key points:
Eligibility: Phased stages for when individuals become eligible
Digital Records: Individuals in scope must keep digital records and submit updates each quarter as well your usual end-of-year annual self-assessment tax return.
Preparation: Get ready by using MTD recognised software to record and report your income.
Key Deadlines: Be aware of important deadlines to ensure compliance with MTD requirements.
When you need to start using Making Tax Digital for Income Tax depends on your qualifying income within a tax year.
If your qualifying income is over:
Meaning from April 2026 if your income is over £50,000 you will be required to file quarterly updates with HMRC.
You must ensure you are complying with HMRC’s requirements by using either MTD compatible software or using a spreadsheet that our team have devised and our services that can help you.
Here at W&H we have created a simply spreadsheet that we have rolled out to our clients to help you complete your submissions.
If clients are completing this spreadsheet, it will help keep the submission costs down.
Clients who intend to use our spreadsheet will then email their figures across to us at the end of each quarter and we will use our bridging software to submit your MTD quarterly return.
For our clients who breached the £50,000 turnover on their 24/25 tax return, we have already registered you for MTD.
For any clients close to £50,000 on their last tax return, we will register you from the following year, including anyone from £30,000 as this bracket will be from April 2027.
For any new clients we are always happy to assist, please contact our office and we can assist.
Your quarterly periods will end in June, September, December, and March each year.
Please ensure you are ahead of the new reporting regime and contact a member our of team today!
For any late submissions, HMRC will issue penalty points which in turn will accumulate to penalties.