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From the 6th of April 2026 self-employed businesses and landlords with an annual business or property turnover above £50,000.00 will be required to follow HMRC’s MTD for ITSA rules.
From 6th of April 2027 self-employed businesses and landlords with an annual business or property turnover between £30,000.00 and £50,000.00 will be required to follow HMRC’s MTD for ITSA rules.
The days of rushing to file your tax return before the 31st of January will be long gone as self-assessment will be filed every three months via MTD-compliant software.
Dropping off a bag full of receipts to your accountant in January will be a thing of the past!
This may sound like a long way off, but there’s a lot to prepare, plan for and organise before the 2026 deadline hits. And failing to meet the new rules could end with you facing an HMRC penalty.
Getting your systems and processes ready for this big shift in taxation will take time. So, we advise starting the planning process soon, getting you ahead of the curve and ready to go digital when the MTD for ITSA rules kick in for self-assessment taxpayers.
If you are affected by MTD for ITSA we will be contacting you soon to start converting you to digital records over the next few months, so that when the mandatory introduction date arrives, your systems will be running smoothly.
