Making Tax Digital

Businesses, self-employed people and landlords will be required:

• to operate MTD from 6 April 2026 in relation to their trading and property income chargeable to Income Tax and Class 4 National Insurance contributions, if their total qualifying income from these income sources for a tax year exceeds £50,000
• to operate MTD from 6 April 2027 in relation to their trading and property income chargeable to Income Tax and Class 4 National Insurance contributions, if their total qualifying income from these income sources for a tax year exceeds £30,000

They will:

• keep their records digitally
• provide digital quarterly updates
• be able to provide their ITSA return information to HMRC through MTD compatible software

Yes.

The Ftax team are working on a low-cost MTD ITSA solution that is fully compliant with HMRC requirements. We are trying to make this as simple and clear as possible. We will make it easy for clients to exchange income and expense data with their agents, and also make it easy for the self-employed and landlords to file their own returns using ITSA.

If you have any questions or suggestions then please contact us. 

We appreciate your feedback as it will help us design a service that meets your needs.