The Government is expanding its Making Tax Digital (MTD) programme to include more taxpayers, including those with self-employment or rental income over £50,000.
What’s Changing?
From 6 April 2026, you will need to:
• Keep digital records – All tax records must be maintained digitally using MTD-compliant software.
• Submit quarterly updates – In addition to your annual self-assessment, you will need to report your income and expenses to HMRC every quarter.
• File a final self-assessment – Your end-of-year self-assessment return will still be required to confirm any adjustments, deductions, or additional information.
What This Means for You:
There is some time before this new regime starts. However if you’re not already using MTD-compliant software, such as Sage or Xero we feel it is important that you start exploring your options and get the software in place well before 6 April 2026. There is much that HMRC still have to finalise but we believe preparation is key so that the transition to digital record keeping is smooth.The team at Black Fox is here to help make the transition as smooth as possible.
We can help you choose the right software as well as help with the set up and training. Contact us for more details or if you have any questions.