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Frequently Asked Questions — Making Tax Digital (MTD) 1. What is Making Tax Digital (MTD)? MTD is an HMRC initiative requiring individuals and businesses to keep digital records and submit tax information using MTD-compatible software. 2. Who needs to follow MTD for Income Tax (ITSA)? From 6 April 2026 , landlords and self-employed individuals earning over £50,000  must comply. From April 2027 , the threshold reduces to £30,000 . 3. What does MTD mean for landlords with multi

If you are new to Self Assessment and need to submit a tax return for 2024/25, you will need to register for Self Assessment. This should be done before 5 October 2025 in order to avoid a penalty and to ensure that you receive your Unique Taxpayer Reference (UTR) and Notice to File in good time. You can either register for Self Assessment yourself or appoint an agent to register on your behalf. If you register after 5 October 2025, you may incur a failure-to-notify penalty. C

HMRC requires businesses to register for VAT if their taxable turnover exceeds £90,000 in the last 12 months or is expected to exceed this threshold within the next 30 days. Registration must be within   30 days of the end of the month in which the limit is exceeded (or, if the limit will be exceeded in the next 30 days, by the end of that 30-day period) . F ailing to register when required could result in penalties, back payments of VAT owed and interest charges. HMRC revi