Category

Penalties

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…
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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…
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