Making Tax Digital for Income Tax Explained
How self assessment tax returns are changing
From 6 April 2024, MTD for ITSA will change the way the self-employed and landlords do their self assessment for income tax. Here’s how.Learn more
MTD for ITSA: understanding quarterly updates
Under MTD for ITSA rules, landlords and the self-employed must provide quarterly updates to HMRC. Here’s what you need to know.Learn more
Making Tax Digital for the self-employed
We explore everything sole traders and the self-employed need to know about HMRC’s Making Tax Digital for ITSA initiative.Learn more
Making Tax Digital Guides for Landlords
Landlords earning above £10,000 a year from business and property will need to sign up to MTD for ITSA from 6 April 2024.
Understanding MTD for landlords
Read our FAQs exploring what Making Tax Digital means for landlords in practical terms.
A quick guide to MTD for landlords
This short guide outlines the key points landlords need to bear in mind when preparing for MTD for ITSA.
Your MTD for ITSA questions answered
Making Tax Digital for Income Tax Self Assessment (MTD for ITSA) is part of the government’s plans to digitalise the UK tax system. MTD for Income Tax will impact the way sole traders and landlords with a total business or property income above £10,000 per year manage their tax obligations.Learn more
All self-employed people and landlords with a total income (from business or property) above £10,000 will need to follow MTD rules for ITSA from 6 April 2024. Instead of using HMRC’s website to file returns, you’ll need to keep digital records and use compatible software.Learn more
From 6 April 2024, landlords earning above £10,000 annually will need to change the way they record income and expenses under Making Tax Digital for Income Tax Self Assessment rules. They will also need to change the way they submit tax returns.Learn more
In the space of one tax year, you’ll need to send HMRC four quarterly updates using your MTD-compatible software. You’ll also need to send an ‘End of Period Statement’ at the end of the fourth quarter and a ‘Final Declaration’, by January 31st. This replaces the current annual self-assessment.Learn more
At Xero, we’re building an MTD for ITSA solution which we are testing with select customers from April 2022, as part of HMRC’s pilot. This is called our ‘MTD for ITSA beta programme’.Learn more