If you earn qualifying income from self-employment, property, or both, you will be legally required to adopt Making Tax Digital (MTD) for Income Tax based on specific income thresholds and timelines:
- April 2026: Mandatory if your qualifying income exceeds £50,000 for the 2024 to 2025 tax year.
- April 2027: Mandatory if your qualifying income exceeds £30,000 for the 2025 to 2026 tax year.
- April 2028: Projected introduction (subject to planned government legislation) if your qualifying income exceeds £20,000 for the 2026 to 2027 tax year.
For more info – please visit HMRC website.