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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.

From:
HM Revenue & Customs
Published
6 December 2024

Documents

Benefits of Making Tax Digital

HTML

Agent toolkit — accessible version

HTML

Agent toolkit

PDF, 1.24 MB, 12 pages

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Details

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.

Updates to this page

Published 6 December 2024

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