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Self-employed taxpayers allowed to join income tax pilot.
HMRC has opened its Making Tax Digital (MTD) income tax pilot to allow all self-employed taxpayers to join.
Sole traders with an accounting period ending after 5 April 2018 can use software to keep digital business records and send income tax updates to HMRC. In some cases this will remove the need to file a self-assessment return after 2017-18.
Once the taxpayer has linked their software to HMRC they will be reminded when to send their income tax updates. They will also need to send a final report for the year. The deadline will depend on the tax year in which the accounting period ends.
Brian Palmer tax policy adviser at the Association of Accounting Technicians welcomed the extension of the pilot particularly in light of the VAT MTD pilot which is expected to start in April. But he said: ‘At this stage what has...
