Category

Making Tax Digital (MTD)

Sep 07 2026
First Quarterly Update Deadline For MTD

First Quarterly Update Deadline For MTD

By HMRC, Making Tax Digital (MTD), Making Tax Digital For Income Tax Self-Assessment (MTD ITSA), Penalties, Potts & Co Accountancy & Business Advice News
The deadline for filing the first quarterly update (QU) under MTD for income tax has now passed, but QUs still need to be filed. Self-employed individuals and landlords with combined annual income, before deducting expenses, of £50,000 or more should have submitted their first QU using HMRC-approved software by 7…
Read More
Mar 09 2026

New Penalties Regime For All Income Taxpayers

By HMRC, Making Tax Digital (MTD), Making Tax Digital For Income Tax Self-Assessment (MTD ITSA), Penalties, Potts & Co Accountancy & Business Advice News
The new points-based penalties system will apply to all self assessment taxpayers from April 2027, not just those within Making Tax Digital for income tax (MTD IT). The new rules will apply first to taxpayers mandated to join MTD IT from April 2026 (those with qualifying income over £50,000); then…
Read More
Mar 08 2026

Making Tax Digital For Income Tax Letters

By HMRC, Income Tax, Making Tax Digital (MTD), Making Tax Digital For Income Tax Self-Assessment (MTD ITSA), Potts & Co Accountancy & Business Advice News
With just one month to go before the first tranche of individuals are required to sign up to MTD for income tax, HMRC is writing to taxpayers it believes might be affected. From April 2026, sole traders and landlords with qualifying income above £50,000, based on the information included in…
Read More
Oct 03 2025

Making Tax Digital For Income Tax – Exemptions

By HMRC, Making Tax Digital (MTD), Making Tax Digital For Income Tax Self-Assessment (MTD ITSA), Potts & Co Accountancy & Business Advice News
In just over six months the first group of taxpayers will be required to join HMRC's Making Tax Digital for income tax (MTD IT) programme Some individuals may be able to avoid this by claiming an exemption. Self-employed taxpayers and landlords with qualifying income of £50,000 or more on the…
Read More