HMRC’s New Rules Are Coming – Will You Be Ready?
From April 2026, individuals earning over £50,000 from self-employment and/or rental property must comply with Making Tax Digital for Income Tax (MTDforIT).
That means:
Keeping digital records
Filing quarterly reports
Sending a final declaration instead of just a self assessment tax return
This is a huge change for sole traders and landlords. Not sure where to start? That’s where we come in.
Who Must Comply?
You’ll be affected if:
You're self-employed (sole trader)
You're a landlord with UK property income
Your combined income from these sources exceeds £50,000 (before expenses are deducted). This will reduce to £30,000 from April 2027 and £20,000 from April 2028.
For example, if you earn £30,000 as a sole trader and £21,000 rental income (before expenses are deducted) you must start reporting your income quarterly from April 2026.
What You’ll Need to Do
✅ Use MTD-compatible software (e.g. Xero, QuickBooks, FreeAgent)
✅ File quarterly updates to HMRC online
✅ Submit an annual end of tax year return to confirm your income
✅ Keep all records digitally
How We Can Help
We’re a team of accountants based in Wetherby, West Yorkshire with hands-on experience helping clients comply with MTD for VAT – so we’re ready to help you with MTD for Income Tax.
We can provide:
MTD-readiness checks
Software setup and training
Quarterly and annual submission handling
Dedicated support all year round
Why Choose Us?
✔ Friendly, proactive service
✔ Fixed monthly fees – no surprises
✔ Full compliance with HMRC rules
✔ Simple, jargon-free advice
✔ Experienced in MTD systems
Get Ready Early & Avoid Penalties
Getting real-time digital information on your taxes allows you to better plan for the future. You know what you have to pay and can budget accordingly. No more surprise, last minute tax bills.
There are late filing penalties so the sooner you start, the easier it will be to adapt.
Let us handle the setup and submissions so you can focus on running your business.
📞 Book a Free Consultation Today
FAQs:
Q: Can you handle the whole process for me
Yes. We can act as your MTD agent and take care of software, updates, and submissions.
Q: What if I don’t want to use software?
You must use compatible software under the new rules. We’ll help you choose one that’s easy to use – or we can manage it entirely for you.
Q: I already file Self Assessments. What changes?
You’ll now file quarterly, digitally, using new software. No more once-a-year tax returns.