What you need to know Sole traders and landlords earning more than £50,000 have been required to keep digital records and send quarterly updates to HMRC via Making Tax Digital (MTD) since April 2026. For those who haven’t, HMRC is preparing to step in and sign you up. HMRC will automatically sign up […]
HMRC to begin signing up taxpayers they believe need to register Under Making Tax Digital (MTD) for Income Tax, sole traders and landlords with income of more than £50,000 have been required to keep digital records and send quarterly updates to HMRC since 6 April 2026. The first quarterly submission deadline, covering the first
Making Tax Digital for Income Tax first quarter statistics published Read More »
Are you ready to file? Sole traders and landlords that are required to use Making Tax Digital (MTD) to report their earnings are due to send their first quarterly update by 7 August 2026. The quarterly update involves sending income and expenses for the first three months of the tax year to HMRC. After an
Deadline for first Making Tax Digital quarterly update fast approaching Read More »
How to bring more structure to decision making A leading think tank has criticised the fiscal rules that the Chancellor uses to determine the government’s tax and spending plans. The Institute for Fiscal Studies (IFS) has suggested that reducing complex finances to a pass‑or‑fail number misses the bigger picture. The Treasury, on the other
Could a Fiscal “Traffic Light System” Help Your Business Cut Through Uncertainty? Read More »
Regulation will commence in July 2026 Unregulated Buy Now Pay Later (BNPL) agreements will fall under full FCA regulation from 15 July 2026. For the first time, BNPL lenders will need to meet the same expectations as other consumer-credit providers. With almost 11 million UK adults using BNPL in 2024, according to an FCA
Backtrack on Digital ID Requirements Digital right to work checks will be mandatory, ID optional It appears that the government has backtracked on plans to require workers to register with its new digital ID programme to prove their right to work in the UK. While right-to-work checks will still be carried out digitally
With just 10 weeks or so to go until the new tax year, many businesses are preparing for the changes that Making Tax Digital (MTD) will bring. From April, sole traders and landlords with an income of over £50,000 will need to submit quarterly updates to HMRC. It is estimated that around 900,000 individuals will
2.9 million individuals will be affected The government is pressing ahead with Making Tax Digital (MTD) for Income Tax – and it will affect many sole traders and landlords over the next few years. Here’s what’s changing, when it’s changing, and how to get ready. What is MTD for Income Tax? Under MTD, sole traders
Making Tax Digital for Income Tax – Are You Ready? Read More »
