by AJN Accountants | Apr 23, 2025 | Tax Planning
In just over a year the first tranche of sole traders and landlords will be required by law to keep digital records to comply with the requirements of Making Tax Digital for Income Tax (MTD IT) From April 2026, taxpayers with qualifying trading and property income of...
by AJN Accountants | Feb 14, 2025 | Tax Planning
Many more sole traders and landlords will be required to comply with making tax digital (MTD) for income tax when the qualifying income threshold is reduced from £30,000 to £20,000. The Budget confirmed that taxpayers with qualifying income of £50,000 or more will be...
by AJN Accountants | Nov 13, 2024 | Accounting
As we approach April 2026, significant changes are on the horizon for businesses and individuals regarding Making Tax Digital (MTD). If you haven’t yet explored how this affects you, now is the time to prepare for the shift. The UK government has been gradually...
by AJN Accountants | Apr 29, 2024 | Accounting
HMRC has confirmed the mandation dates for making tax digital for income tax self assessment (MTD SA) as announced in the Autumn Statement 2023. From April 2026, taxpayers subject to income tax on their trade, profession, property income or business and who have...
by AJN Accountants | Dec 11, 2023 | Accounting, News, Tax Planning
A dramatic simplification of the MTD processes to be introduced in 2026 including no EOPS; cumulative submissions each quarter; and restrictions for complex situations. Taxpayers with turnover over £50,000 will be brought into MTD ISTSA from April 2026. The £50,000...
