In this video, Hayley and Simon provide an update on Making Tax Digital (MTD) for Income Tax, which is set to take effect from April 2026. They explain that individuals with self-employment or rental income over £50,000 will need to make quarterly digital submissions, with the threshold dropping to £30,000 in April 2027.

While this may seem straightforward, there’s still a lot of uncertainty surrounding the implementation, including software availability, submission responsibilities, and guidance from HMRC. As this stage, only sole traders and landlords are affected, not partnerships or limited companies. Clients are advised to wait for further updates as more information becomes available. Despite doubts about whether the rollout will happen on time, Hive is actively monitoring the situation to prepare clients for what’s ahead and will reach out to affected clients directly.

If you’d like to find out more about MTD get in touch.