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Politics & Current Affairs / Re: Financial matters
« Last post by SteveH on July 16, 2024, 10:27:34 am »This subject came up during a conversation yesterday, which raises a few questions..............It would appear that it affects businesses only, however it was mentioned during my conversation that it could include non business owners....any comments ?
From April 2026, self-employed individuals and landlords with an income of more than £50,000 will be required to keep digital records and provide quarterly updates on their income and expenditure to HMRC through MTD-compatible software.
cont https://dmoaccountants.co.uk/making-tax-digital-the-transition-to-quarterly-tax-returns-2024-25/#:~:text=From%20April%202026%2C%20self%2Demployed,HMRC%20through%20MTD%2Dcompatible%20software.
GOV.UK Making Tax Digital for Income Tax Self Assessment for sole traders and landlords
https://www.gov.uk/government/publications/extension-of-making-tax-digital-for-income-tax-self-assessment-to-sole-traders-and-landlords/making-tax-digital-for-income-tax-self-assessment-for-sole-traders-and-landlords
From April 2026, self-employed individuals and landlords with an income of more than £50,000 will be required to keep digital records and provide quarterly updates on their income and expenditure to HMRC through MTD-compatible software.
cont https://dmoaccountants.co.uk/making-tax-digital-the-transition-to-quarterly-tax-returns-2024-25/#:~:text=From%20April%202026%2C%20self%2Demployed,HMRC%20through%20MTD%2Dcompatible%20software.
GOV.UK Making Tax Digital for Income Tax Self Assessment for sole traders and landlords
https://www.gov.uk/government/publications/extension-of-making-tax-digital-for-income-tax-self-assessment-to-sole-traders-and-landlords/making-tax-digital-for-income-tax-self-assessment-for-sole-traders-and-landlords