Making Tax Digital for Income Tax Self Assessent update: The UK Government has announced that MTD ITSA has been delayed again (was due to come into play 6 April 2024), is now mandated to start from April 2026
Another deferral to the MTD programme
The UK Government is suggesting one of the reasons for their delay is due to the economic challenges presently that businesses are having to face.
Details announced on Monday 19th December ’22;
| from April 2026, self-employed individuals and landlords with an income of more than £50,000 will be required (mandated) to keep digital records and provide quarterly updates on their income and expenditure to HMRC through MTD-compatible software |
| those with an income of between £30,000 and up to £50,000 will need to do this from April 2027 |
| it is anticipated that most taxpayers within the scope of MTD for ITSA will be able to sign up voluntarily before they are mandated to do so |
| the UK Government will not extend MTD for ITSA to general partnerships in 2025. The government remains committed to introducing MTD for ITSA to partnerships at a later date, to be confirmed |
| the UK Government will review the needs of smaller businesses, and particularly those under the £30,000 threshold before taking further decisions. This will look in detail at how the MTD for ITSA service can be shaped to meet their needs and the best way for them to fulfil their Income Tax obligations. Once that review is complete – and in consultation with businesses, taxpayers, agents, and others – the UK Government will lay out the plans for any further mandation of MTD for ITSA |
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