Taxation logo taxation mission text

Since 1927 the leading authority on tax law, practice and administration

MTD for income tax: are we nearly there yet?

02 January 2024 / Emma Rawson
Issue: 4918 / Categories: Comment & Analysis , National Insurance , partnerships , Business
Are we nearly there yet?

Key points

  • The introduction of MTD for ITSA for landlords and the self-employed will be phased in with different dates dependent on the taxpayer’s income.
  • HMRC has confirmed that the turnover threshold for MTD for ITSA will remain at £30 000 for now. New exemptions for foster carers and those with no National Insurance number have been introduced.
  • HMRC does not specify if or when partnerships will be brought into MTD for ITSA.
  • HMRC has not yet clarified how it expects record keeping to work under MTD for ITSA; but quarterly updates will now be cumulative (a positive development).

On 18 March 2015 George Osbourne then chancellor of the exchequer announced the introduction of making tax digital (MTD) saying in his Budget speech that ‘Tax really doesn’t have to be taxing and this spells the death of the annual tax return’.

The 11th anniversary...

If you or your firm subscribes to, please click the login box below:

If you are not a subscriber but are a registered user or have a free trial, please enter your details in the following boxes:

Alternatively, you can register free of charge to read a limited amount of subscriber content per month.
Once you have registered, you will receive an email directing you back to read this item in full.

Please reach out to customer services at +44 (0) 330 161 1234 or '' for further assistance.

back to top icon