HMRC updates its guidance for making tax digital for income tax

HMRC has updated its making tax digital (MTD) for income tax guidance with new sections on the requirements from 6 April 2024.

Check when to sign up for making tax digital for income tax has been updated to confirm that after the submission of the 2022-23 tax return HMRC will write to taxpayers confirming if they meet the MTD for income tax requirements. If they do taxpayers or agents must set up compatible software and sign up for MTD.

It also confirms that if a taxpayer becomes self-employed or a landlord after 6 April 2023 they must sign up for MTD after they have filed their first self-assessment return. They can sign up earlier voluntarily if they wish.

For partnerships the guidance confirms that general partnerships will need to sign up by 6 April 2025 if they receive more than £10 000 in qualifying...