From today, 6th April 2026, Making Tax Digital for Income Tax (MTD ) officially takes effect. At G W Dick & Co, we want to remind all of those affected that now is the time to ensure you are registered, prepared, and compliant with the new requirements introduced by HM Revenue & Customs.
Who Needs to Act?
If you are a sole trader or landlord and your qualifying income exceeds £50K (that’s Gross Income before expenses) you now need to be registered for MTD and ready to comply. If you are close to the threshold or expect to be included soon, it’s important to start preparing now.
What You Need to Do
Under MTD you should:
- Register for MTD with HMRC if you haven’t already
- Keep digital records of all income and expenses
- Use MTD-compatible software (or bridging software if you use spreadsheets)
- Submit quarterly updates to HMRC…with the first deadline of 7th August 2026
- Submit an annual digital tax return by the 31st January 2028
- Don’t Delay
MTD represents a major change in how income is reported and managed. Acting now will help you avoid disruption and ensure a smooth transition to the new system.
Need More Information?
This is a brief reminder of the key actions required. For more detailed guidance, please refer to our full brochure here , or you can contact us at G W Dick & Co for tailored support.