Self-employed individuals and landlords have a few more years to prepare for Making Tax Digital (MTD) for Income Tax Self Assessment (ITSA). But it's not too early to start planning for the transition now.
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The thought of going digital can be daunting when you've been doing your accounts with paper records and spreadsheets for years. But many software products have built-in additional help to guide you and there is always your advisor on hand to assist you.
The timeline for MTD ITSA is:
6 April 2026 if you have an annual business and/or property income of more than £50,000
April 2027 if you have an annual business and/or property income of more than £30,000
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Some businesses and agents are already keeping digital records and providing updates to HMRC as part of a live pilot to test and develop the Making Tax Digital for Income Tax. If you are a self-employed business or landlord, check if you can voluntarily sign up now through your software provider.
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