The Government recognises the challenges faced by many UK businesses as the country emerges from the pandemic over the last year. In recognition of this and of stakeholder feedback, HMRC will now be introducing MTD ITSA a year later, in April 2024 instead of April 2023.
Who will be affected
The government is extending the requirement to operate Making Tax Digital (MTD) to the 4.2m taxpayers with business and/or property income over £10,000, including landlords, sole traders and partnerships, for their Income Tax obligations.
These changes will apply to businesses, self-employed individuals and landlords who are chargeable to Income Tax.
Abi are working hard to ensure that our clients are aware of this and that our systems and processes are robust and will allow our clients to be fully compliant with HMRC.
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