Making Tax Digital (MTD) for Income Tax is a new way for sole traders and landlords to report their income and expenses to HMRC. If you are required to sign up, you will need to keep digital records of your self-employment and property income and expenses, send quarterly updates to HMRC, and submit your year-end declaration by 31 January the following year.
We hope that the FAQs below will answer members’ questions, but we also recommend signing up to a MTD seminar with HMRC as there will be tax advisors present who can answer questions live.
Please get in touch if your question is not covered by the points below or HMRC.
