Making Tax Digital (MTD) for the self-employed and landlords
If you have combined turnover over £50,000 for your Self Employed Income and Property Income, then you'll need to file quarterly reports to HMRC via tax compliant software from 6th April 2025 onwards.
At McManus Hall we can assist you in keeping your records in cloud-based software such as Xero and ensure your returns are filed accurately and on time.
MTD timeline
HMRC have announced the MTD timeline for the self-employed and landlords is as follows:
It is very important to appreciate that the various levels are based on gross income, and not on net profit after expenses have been deducted.
If these limits affect you, please get in touch so we can assist you with this new level of HMRC compliance.
If you have combined turnover over £50,000 for your Self Employed Income and Property Income, then you'll need to file quarterly reports to HMRC via tax compliant software from 6th April 2025 onwards.
At McManus Hall we can assist you in keeping your records in cloud-based software such as Xero and ensure your returns are filed accurately and on time.
MTD timeline
HMRC have announced the MTD timeline for the self-employed and landlords is as follows:
- 6 April 2026: Those with an income of more than £50,000 for the 2024/25 tax year.
- 6 April 2027: Those with an income of between £30,000 and £50,000 for the 2025/26 tax year.
- Expected 6 April 2028t: Those with an income of between £20,000 and £30,000 for the 2026/27 tax year.
It is very important to appreciate that the various levels are based on gross income, and not on net profit after expenses have been deducted.
If these limits affect you, please get in touch so we can assist you with this new level of HMRC compliance.
