The Making Tax Digital (MTD) government initiative introduces a new reporting rhythm for self-employed people and landlords. If your combined self-employment and property income is more than £50,000 (based on your 2024/25 tax return), you should already be using MTD. The threshold will fall to more than £30,000 from April 2027 based on your 2025/26
If you’re a sole trader and Making Tax Digital for Income Tax (MTD for IT) is making you rethink your business structure, you’re not alone. We’ve spoken to many business owners who are asking the same question: “If I become a limited company, can I get out of quarterly MTD reporting?” The answer is technically
If Making Tax Digital is on your radar, working out your qualifying income is one of the quickest ways to find out whether the new rules apply to you. To work out your qualifying income for Making Tax Digital (MTD) for Income Tax, add together your annualised self-employment income and any property income for the
As of April 2026, Making Tax Digital for Income Tax Self-Assessment (MTD ITSA) has officially begun rolling out for self-employed individuals and landlords whose gross combined income from rental and self-employment in the 2024/25 tax year exceeds £50,000. If it applies to you, it means big changes to how you manage and report your finances.
If you live in the UK and earn money through self-employment or property income, then yes, your accountant can take care of most (if not all) of the MTD process. For many landlords, sole traders, and small business owners, it’s often the simplest and least stressful way to stay compliant. As experienced Making Tax Digital accountants,
If you’re a landlord, Making Tax Digital (MTD) might already be on your radar, and if it isn’t, now is the time to start paying attention. From April 2026, many landlords will need to comply with the new rules for MTD for Income Tax. This means you’ll need compatible software to make it work. Vital
So you’ve recently hit the £100,000 milestone? You might be wondering whether you now have to complete a Self-Assessment tax return, especially if you’re used to paying tax through PAYE. Earning over £100,000 doesn’t always mean you must automatically file a return, but it does put you in a category where tax is a little
On 3 March 2026, Chancellor Rachel Reeves presented the government’s Spring Forecast alongside the latest economic outlook from the Office for Budget Responsibility (OBR). As expected, no new tax measures were announced, as the government has committed to holding only one major fiscal event each year. However, the economic forecasts still give us a useful
Content accurate as of 26 November 2025. On 26 November 2025, Chancellor Rachel Reeves presented her second Budget to Parliament. After the tax-raising budget of 2024, it had been hoped by the government that widely applicable tax increases would not be required again in 2025. However, with economic pressures continuing to apply, tax increases have
More and more people are selling items online, whether it’s unwanted clothes on Vinted, old furniture on Facebook Marketplace, or making additional income (sometimes called a ‘side hustle’) through eBay, Etsy, or Amazon. But when does selling online cross the line into something HMRC views as taxable? If you’ve wondered whether you need to pay
