Have you had a letter about Making Tax Digital for your self-assessment, but you don’t have an accountant – Kennedys Accounting are here to help!
Have you had a letter about Making Tax Digital for your self-assessment, but you don’t have an accountant – Kennedys Accounting are here to help!
Senior HMRC official claims Making Tax Digital (MTD) rollout is ‘on track’ but 40% of sole traders and landlords do not have an accountant or bookkeeper.
From 6 April 2026, sole traders, self employed individuals and landlords with gross income over £50,000 will be required to keep digital records via accounting software, and will have to submit quarterly submissions to HMRC followed by the usual year end self-assessment.
Note – qualifying income does not include dividends, only property income and self employed earnings.
Based on HMRC’s own figures, 864,000 taxpayers will have to file under MTD for Income Tax in the first wave. However, 40% of the initial cohort do not have a tax adviser, bookkeeper or accountant; this means that nearly 350,000 people will have to file using digital software without support.
Of the 40%, HMRC have told MPs, that they are now focusing on the ‘unrepresented group’. But clearly this is a tricky area, with HMRC admitting: ‘The challenge for us is the unrepresented group. As we know sometimes our correspondence is not scrutinised with the level of diligence we would like. We are going to be writing to them again.’
With less than three months to go, HMRC have said they will be ramping up activity to build awareness.
HMRC have confirmed that MTD will still be ‘going live in April’ and that they are on track, with their own programme of governance.
HMRC have also continued to confirm that plans to rollout MTD in 2027 for those earning £30,000, and in 2028 for those earning £20,000 is still going ahead.
Please take a look at out website and various blogs here https://kennedysaccounting.uk/making-tax-digital-and-self-assessments-kennedys-accounting-are-ready-to-help-insights/ regarding MTD and get in touch if you need our help – the team are here, ready and waiting to assist you.