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April 2026: MTD for ITSA Becomes Mandatory for Certain Individuals
What You'll Need to Do Starting April 2026:
In April 2026, Making Tax Digital for Income Tax Self-Assessment (MTD for ITSA) will become mandatory for self-employed individuals and landlords whose annual business or property income exceeds £50,000.
Key Details:
Who is Affected?
- Self-employed individuals and landlords with annual gross income from business or property over £50,000.
What Changes in April 2026?
- Digital Record Keeping: Affected taxpayers must keep digital records of their income and expenses using HMRC-approved software.
- Quarterly Updates: You will need to submit quarterly updates of your income and expenses to HMRC through this software. These updates replace the annual tax return process.
- End-of-Year Submission: At the end of the tax year, you’ll need to submit a final declaration to confirm your total income and calculate the exact tax owed.
Quarterly Reporting Deadlines:
- Reports will be submitted every three months, typically within a month after the quarter ends.
This is the first phase of MTD for ITSA, with further extensions planned for those earning over £30,000 in April 2027.
Tagline
MTD Update (HMRC):
Making Tax Digital for Income Tax starts 6 April 2026 for incomes over £50,000, expanding to £30,000 from April 2027. Now is the time to get prepared.