Making Tax Digital for Income Tax: What Sole Traders and the Self-Employed Need to Do Before It’s Too Late
Making Tax Digital for Income Tax replaces annual self-assessment with four quarterly updates and a final declaration. Sole traders and landlords adopt it in phases based on income: over £50,000 from April 2026, over £30,000 from 2027, and over £20,000 from 2028. Limited companies are unaffected, but others need compliant software and early accountant support. […]