Making Income Tax Digital: Will the new laws impact you?
HMRC has been working hard to modernise the current tax system to ensure it is functioning efficiently and effectively.
HMRC has been working hard to modernise the current tax system to ensure it is functioning efficiently and effectively.
Individuals earning outside of their main employment may need to register for Self-Assessment and submit a tax return.
The 31 January deadline for Self-Assessment has passed, and for the 1.1 million people who missed it, the financial repercussions are now in full swing.
The April 2026 rollout of Making Tax Digital (MTD) for Income Tax Self-Assessment (ITSA) is fast approaching.
If your net income is between £100,000 and £150,000, you should expect a letter from HM Revenue & Customs (HMRC) informing you of changes to your tax return requirements.
From 6 April 2026, self-employed individuals must comply with Making Tax Digital (MTD) for Income Tax Self-Assessment (ITSA). This includes landlords.