The government has announced a two-year delay to the introduction of Making Tax Digital for Income Tax Self Assessment (MTD for ITSA), along with major changes to the income thresholds for those affected. MTD for ITSA had previously been scheduled to start in April 2024, and self-employed business owners and […]
Daily archives: December 20, 2022
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If your earnings type falls in the above categories and you’ve reported income exceeding £50,000 in a tax year to HMRC, Self Assessments will no longer be required with effect from 6th April 2026. Instead, you will need to follow MTD rules for reporting your business income and expenditure. Prior […]