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MTD for Income Tax (MTD for IT) is part of the Government’s digital tax strategy and will require individuals who meet specific criteria to submit their income and expenses digitally to HMRC. This is part of the effort to make the tax system more efficient, accurate, and streamlined.
MTD will affect individuals for the 2026/27 tax year with income from self-employment and/or property (UK and Foreign rental income) who meet the following criteria:
These totals are reduced to £30,000 per year for the 2027/28 tax year, with a further reduction to £20,000 from April 2028.
If you meet the criteria, you will be required to report income and expenses quarterly, rather than once a year, and submit your returns through MTD-compliant software. However, the payment of tax will not be required to be made quarterly.
There are several benefits to this change in how income is reported to HMRC:
If you have any questions or concerns about Making Tax Digital, please contact the Connolly team.
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matthew hargreaves 2025-05-18 Trustindex verifies that the original source of the review is Google. Connolly Accountants manage to achieve a totally modern and professional service whilst maintaining all the benefits that come with Old School Values. We highly recommend Daniel Rust and his team. They have looked after our account in a way that gives us total peace of mind. His and the team's skills in communication combined with their dedication cultivates a working relationship built on trust and respect. Thank you all very much, Matthew and Valerie docsteviec 2025-04-24 Trustindex verifies that the original source of the review is Google. Excellent service, very fast, helpful and professional. Tessa Holden 2025-03-19 Trustindex verifies that the original source of the review is Google. Very helpful and knowledgeable highly recommend Tina Holton 2025-03-02 Trustindex verifies that the original source of the review is Google. Received excellent advice, Dan was quick to respond and explained options thoroughly, would highly recommend Mark Barber 2025-02-18 Trustindex verifies that the original source of the review is Google. Been with Connolly Accountants for sometime now and I can't fault them, I would highly recommend Josh Bridges. Samantha Tarbit 2025-01-31 Trustindex verifies that the original source of the review is Google. Connolly Accountants stands out as a modern, digitally-forward accounting firm that delivers exceptional service to businesses of all sizes. After 5-6 years of experience using the firm, they proved to be an outstanding choice for businesses seeking efficient, technology-driven accounting solutions. HIGHLY RECOMMENDED for businesses seeking a modern, efficient, and client-focused accounting partner. Ciara Higgins 2025-01-28 Trustindex verifies that the original source of the review is Google. I worked with Thomas who was really helpful, worked incredibly fast with my tax return - highly recommend Nova Norris 2025-01-16 Trustindex verifies that the original source of the review is Google. Absolutely excellent service. Very professional, helpful and understanding. Would definitely recommend. Michael Flock 2025-01-16 Trustindex verifies that the original source of the review is Google. I have used Connolly’s for the last few years as my accountants and bookkeepers and have been delighted with their service and advice. My bookkeeper made herself readily available at all hours and made life so easy and In terms of tax advice , staff like Josh were a godsend saving me time and effort. I would have no hesitation in recommending Connolly’s to anyone looking for a great proactive accountancy firm. Richard G. Jewell 2025-01-15 Trustindex verifies that the original source of the review is Google. For boring reasons I had to submit a tax return this year. I engaged Connolly Accountants and their chap Dan Rust was put on the job. Nice guy, a light and pleasant sense of humour, and he did the number crunching and form filling with ruthless efficiency. The price was very reasonable too. Can't praise Connolly's and Dan and Alana enough. Thank you.
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