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Making Tax Digital, MTD
Making Tax Digital for Income Tax & Self Assessment
Making Tax Digital for Income Tax & Self Assessment (MTD for ITSA) is an HMRC initiative to get small businesses and the self-employed to maintain mandatory digital records and make tax returns digitally.
Making Tax Digital requires sole traders and landlords to report their income and expenses to HMRC in a completely different way.
According to current timeline Making Tax Digital for income tax will launch properly in year 2026 for self-employed. In other words, most sole traders will need to follow MTD for Income Tax rules.
Making Tax Digital
timeline
April 6th, 2025 - April 5th 2026
July 2024 - May 2025
January 2023 - June 2024
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