Making Tax Digital for Income Tax: Key Changes Coming in 2026

Making Tax Digital for Income Tax is on the horizon, bringing one of the biggest changes to the tax system in years.

Self-employed individuals and landlords may need to change how they report their income and manage their tax affairs. If your turnover from self-employment and/or property is over £50,000 in the 2024/25 tax year, you must comply with Making Tax Digital for Income Tax from April 2026.

This means you will need to keep digital records of your income and expenses. Paper records only will no longer suffice. A summary of your income and expenses must be submitted to HMRC every quarter using software. The reporting periods and filing deadlines are as follows:

It is worth noting that separate quarterly updates will be required for each business. For example, if you have both self-employment income and property income, then eight quarterly updates will need to be submitted each year.

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