From April 2026, landlords and sole traders will need to join Making Tax Digital. What do they need to know?

Making Tax Digital for Income Tax is a reporting process set to be implemented by HMRC from April 2026

Businesses and landlords will be enrolled into keeping digital accounting records and will have to file quarterly figures with HMRC.

HMRC is checking compliance with Making Tax Digital for VAT, and officers are increasingly likely to apply penalties for failure to comply.

The pre-election Spring Budget will be held on Wednesday 6 March 2024, the Treasury has confirmed. (Updated).

Since 1 April 2019, ‘Making Tax Digital’ is live for most VAT registered businesses.

The way that the profits of sole traders and partnerships are assessed to tax is changing for those using an accounting date that does not coincide with the tax year.

A new digital currency tied to the value of the pound could act as an alternative to cash, according to the Treasury and the Bank of England.

Self-employed individuals and landlords with income over £50,000 have been given a further two years to prepare for Making Tax Digital for Income Tax.

Leading accounting, audit, tax, and advisory firm Bishop Fleming has announced the latest round of promotions to its partner group.