Making Tax Digital (MTD) is a governmemnt initative designde to promote better and more timely record-keeping to reduce errors and mistakes. Currently, the initiative only covers VAT, however, from April 2026, a new system is to be introduced by H M Revenue & Customs (HMRC) for Income Tax. It will require self-employed individuals and landlords to keep digital records of their income and expenses and submit updates to HMRC on a quarterly basis, using compatible software.
Timeline
Our Making Tax Digital (MTD) timeline covers all the key deadlines and dates for each stage of HMRCs MTD initiative.
Quarterly updates
Under MTD for IT, landlords and the self-employed will have to provide quarterly updates on their income and expenses.
What MTD is
Here, we revisit the original Making Tax Digital legislation for Income Tax.
Final Declaration
From April 2026, ‘Final Declarations’ will be a requirement for HMRC’s Making Tax Digital for Income Tax initiative.
Software
The functionality of approved MTD for Income Tax software varies, some enable digital records of income and expenses to be creates, whilst others act as bridging software.
Making Tax Digital for Income Tax