Making Tax Digital will be mandatory for some traders and landlords next year. Ahead of this, the government is ramping up its guidance to help you get ready. What is the latest offering?
Some sole traders and landlords will be mandated into Making Tax Digital for Income Tax Self-Assessment (MTD ITSA) next April. HMRC has published a video purporting to explain MTD ITSA; though it really doesn’t say anything especially helpful, rather it seems to aim to convince the customer that MTD ITSA will be very helpful. It also initially implies the mandation threshold for 2026 is £30,000 – it isn’t, it’s £50,000 dropping to £30,000 in 2027.
Perhaps more helpful is the opportunity to register for a live webinar on 3 April. This will cover some basics regarding what you will need to do once you are required to use MTD ITSA. You can register for the webinar here.
Thank you for reading this article. Churchgates are here to support clients on every stage of their financial journey. We have a unique and powerful combination of fully qualified and registered accountants, tax advisers, solicitors, investment managers and financial planners, offering a wealth of experience and expertise under one roof. If you would like to discuss any of the information from this article, or would like help with any of the services listed above, please don’t hesitate to contact us on 01284 701271, or complete the form on our contact page.
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Our articles offer general guidance only and may not include points which are important to your situation. You should not depend on our articles without taking advice based on the full facts of your case, for example from our advisers. Where our articles refer to investments, please remember that investments can go up and down in value, so you could get back less than you put in.
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