News alert- Making Tax Digital for ITSA DELAYED!

News alert- Making Tax Digital for ITSA DELAYED!

https://www.ispeech.org/text.to.speech

Note not only delayed but also the thresholds increased!

This will now start in April 2026, rather than April 2024.

From April 2026, self-employed individuals and landlords with an income of more than £50,000 will be required to keep digital records and provide quarterly updates to HMRC.

From April 2027 those with an income of between £30,000 and £50,000 will need to do this.

There will be a review into the needs of smaller businesses – those under the £30,000 income threshold.  This review will consider how MTD for ITSA can be shaped to meet the needs of these smaller businesses.

Remember – there are advantages of starting to keep digital records now so that you can track your income and expenditure more easily but also have figures at your fingertips.  If you need help with this transition then get in touch.

You can also find everything you need to know about Making Tax Digital for Income Tax Self Assessment in my guide.

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