Get ready for Making Tax Digital for Income Tax
How HMRC's new way for sole traders, landlords and their agents to report income and expenses will help them manage their tax affairs.
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Making Tax Digital for Income Tax will help sole traders and landlords stay on top of their tax affairs. This is done by using compatible software to keep up to date digital records and send closer to real-time updates of income and expenses to HMRC each quarter.
These changes will help you to:
- pay the right amount of tax
- reduce the chance of making errors
- have a clear view of your finances
- plan for the future
Making Tax Digital for Income Tax will be introduced in phases for sole traders and landlords, based on their gross annual income from self-employment and property (before expenses, allowances, and tax deductions).
Find out if and when you need to use Making Tax Digital for Income Tax.
Agent support for Making Tax Digital for Income Tax
Agents now have access to tailored support to help prepare themselves and their clients for Making Tax Digital for Income Tax.
HMRC’s Agent Engagement team is running interactive group sessions on Microsoft Teams to provide guidance and support. These sessions will give agents direct access to HMRC specialists in an interactive environment where they can discuss what’s changing and get their questions answered in real time.
You can register your interest through an online form using your agent services account (ASA). You’ll need to sign in with your Government Gateway ID and password linked to your ASA to access the form.
If you do not yet have an ASA, you can access the form by signing in with your online services for agents account. In this case, you’ll need to enter your contact details manually.
Once you’ve completed the form HMRC’s Agent Engagement team will be in touch with relevant support options including instructions for joining an interactive session.
Updates to this page
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Information has been expanded including ‘Using Making Tax Digital for Income Tax’ with links to specific guidance. ‘How accountants and bookkeepers can get ready’ section has been updated with revised steps. More information has been added on quarterly updates to ‘Frequently asked questions (FAQs)’. A link has been added for videos and webinars for Making Tax Digital for Income Tax.
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First published.