Making Tax Digital (MTD) for Income Tax: A Simple Guide

Making Tax Digital (MTD) for Income Tax: A Simple Guide

Making Tax Digital (MTD) for Income Tax is a new way for self-employed people and landlords to report their income to HM Revenue & Customs.

Instead of sending one tax return each year, you’ll need to keep your records digitally and send updates more regularly.

When it starts

MTD will be introduced in stages, depending on how much you earn (before expenses):

• From April 2026 – if your income is over £50,000

• From April 2027 – if your income is over £30,000

• From April 2028 – if your income is over £20,000

What you need to do

If MTD applies to you, you’ll need to:

• Keep digital records of your income and expenses

• Send updates to HMRC every 3 months

• Submit a final declaration at the end of the tax year

How we can help

At Ambitious Accountants, we make this easy for you by:

• Setting everything up for you

• Keeping your records organised

• Submitting updates to HMRC on your behalf