🚨 TAX ALERT! Big changes are coming for the self-employed and landlords! 🚨 Starting in April 2026, if you earn over £50,000 per year from self-employment or property, you’ll need to send quarterly updates to HMRC using recognised software. This is all part of the new Making Tax Digital (MTD) for Income Tax initiative.
Not only is this a big shift, but it’ll help streamline how you manage your finances, spreading the workload more evenly throughout the year and keeping your business activities running smoothly. Say goodbye to the last-minute tax return scramble and hello to real-time reporting!
James Murray MP calls it a crucial part of modernising the UK’s tax system, ensuring businesses are both efficient and productive while everyone’s contributing their fair share. With this change, the government aims to drive economic growth and make tax time less of a headache.
Starting in April 2027, those with qualifying income over £30,000 will need to switch to MTD, and by April 2028, the threshold lowers to £20,000. Don’t wait—get ahead of the curve and sign up today! Check out more details on the Government’s website. #TaxChange #BePrepared #MakingTaxDigital