Making Tax Digital Timeline for Self Employed and Landlords
Published / Last Updated on 26/08/2022
Making Tax Digital Income Tax Self Assessment (MDT ITSA): For the Self Employed and Landlords.
6th April 2024: MDT ITSA starts for both self-employed businesses, and landlords with business turnover above a £10,000 threshold must retain digital records of business trade and/or property rental income and expenses using 'functional compatible software' with HMRC.
You must then submit your self assessment returns to HMRC using software and not using your government gateway Personal Tax Account.
Quarterly Returns: You must submit an MTD ITSA quarterly summary update and then for the 4th and final quarter ...
End of Period Statement: at the end of the tax year for each business income source and then ...
A Final Statement: including other sources of income such as PAYE, Interest, Dividends, Investment Income etc.
These measures have already been delayed by a year and were due to start in April 2023.
6th April 2025: General Partnerships come under MTD ITSA rules on this date.
Date to Be Confirmed: all other types of partnerships will be required to join MDT ITSA but will be confirmed later.
An MTD ITSA pilot scheme is already up and running.
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