Making Tax Digital Update
VAT registered businesses are currently caught by the Making Tax Digital (MTD) regime.
The current plan is for the self employed or those having gross rental income of more than £50,000 per year to come under the MTD regime in April 2026.
Those having self employed income or gross rental income in excess of £30,000 per year, will be caught by the MTD system by April 2027.
There is not timing for the inclusion in the MTD system of the self employed or those having property rental income of less that £30,000 per year.
HMRC have also not issued a date when limited companies, with income below the VAT registration, will be caught by the new MTD system.