MTD: delayed & threshold increased
20th December 2022
After Press speculation over the weekend, it’s official, HMRC have now confirmed that the introduction of Making Tax Digital for income tax is to be delayed for 2 years:
The mandate of MTD for ITSA will now be introduced from April 2026, with businesses, self-employed individuals, and landlords with income over £50,000 mandated to join first. Those with income over £30,000 will be mandated from April 2027. Smaller businesses, and particularly those under the £30,000 threshold to be reviewed at a later date. MTD for partnerships start date TBC.
Disclaimer - All information in this post was correct at time of writing.
