MTD for ITSA – new timetable announced
The Government has formally announced the following update with reference to the implementation of Making Tax Digital for Income Tax Self Assessment (MTD for ITSA):
• MTD for ITSA filing will not become mandatory until April 2026;
• from that date, only the self employed and landlords with an income of £50,000 or above will need to comply;
• taxpayers with income of £30,000 or more will have to join the scheme from April 2027.
Further consultations will take place to decide how taxpayers with income of less than £30,000 will be dealt with under the MTD for ITSA scheme, as well as confirming when partnerships will have to comply.