Get ready for Making Tax Digital for ITSA – Key changes ahead
The April 2026 rollout of Making Tax Digital (MTD) for Income Tax Self-Assessment (ITSA) is fast approaching.
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.
Unincorporated businesses like sole traders and partnerships, are subject to different taxes than limited companies.
Recent announcements from HM Revenue & Customs (HMRC) have indicated significant changes to the Self-Assessment criteria, as outlined in the Autumn Statement 2023.
The numerous tax liabilities involved with owning and managing a limited company make efficient reporting of personal income complex and occasionally tedious.