Making Tax Digital
MTD for Income Tax Self Assessment (MTD ITSA)
MTD ITSA is the second phase of digitising tax record keeping. It applies to self-employed businesses and landlords.
- HMTC's MTD for Income Tax pilot program Re-opened April 2024.
- From April 2026: MTD ITSA applies to businesses with turnover above £50,000.
- From: April 2027: MTD ITSA applies to businesses with turnover above £30,000.
- From April 2029 or 2030: MTD ITSA is anticipated to apply to businesses with turnover above £20,000.
MTD for Partnerships and Corporation Tax (MTD CT)
- Date TBC
Making Tax Digital (MTD) for VAT
- From April 2022, all VAT registeredbusinesses must retain digital records and submit their VAT returns to HMRC using 'functional compatible software', unless an exemption such as digital exclusion applies.
- Once in MTD for VAT, a business remains in MTD for VAT unless it Deregisters for VAT.
Our Making VAT Digital Zone contains guides and updates including a Making VAT Digital (MVD) subscriber guide.
