Still doing your taxes just once a year? HMRC is officially changing the rules.

If you are a sole trader or a landlord in the UK, the way you report your income has fundamentally changed. Making Tax Digital (MTD) for Income Tax is now live, and it means the old "once-a-year" Self Assessment scramble is being phased out.

Here is exactly what you need to know:

 The Thresholds:

• Earning over £50,000? You are already legally required to follow the new rules.

• Earning over £30,000? Your deadline is April 2027.

• Earning over £20,000? Your deadline is April 2028.

  
  

 The Big Change: You can no longer use paper receipts or manual spreadsheets. You must log expenses digitally and send four quarterly updates to HMRC, plus a final declaration.

 Crucial Note: This changes how often you report your numbers, not when you actually pay your tax bill.

If you haven't switched your business over to MTD-compatible software like Xero or QuickBooks, or if you aren't sure how these deadlines apply to your exact earnings, we are here to handle the transition for you.

 Drop us an email to book a free 15-minute MTD health check. Let’s get your digital record-keeping sorted before HMRC's late-submission penalties kick in.