Making Tax Digital for Income Tax

Making Tax Digital for Income Tax

HMRC is phasing in its landmark Making Tax Digital (MTD) regime, which will ultimately require all taxpayers to move to a fully digital tax system. The government had planned to require most self employed taxpayers and landlords to keep digital records and update HMRC quarterly for income tax from April 2024 but these proposals have been deferred until April 2026 and will now be phased in.

Though entry to Making Tax Digital for income tax self assessment (MTD ITSA) is being phased in, the first returns under the new rules are due to be made in 2026. MTD for VAT (MTDfV) already applies to all VAT-registered businesses.

What, however, do the MTD rules mean in practice? HMRC research suggests many people are unsure which developments apply to them. We look here at what’s known so far, and what might affect you.

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