The Treasury has confirmed that making tax digital for income tax will be delayed for two more years.
In a written statement Victoria Atkins financial secretary to the Treasury said: ‘The government understands businesses and self-employed individuals are currently facing a challenging economic environment and that the transition to MTD for ITSA represents a significant change for taxpayers their agents and for HMRC.
‘That means it is right to take the time needed to work together to maximise those benefits of MTD for small business by implementing gradually.’
As a result the government is making significant changes to the MTD timetable:
- Mandatory MTD for ITSA is delayed to April 2026 but this will apply to self-employed individuals and landlords with an income of more than £50 000.
- Those with an income of between £30 000 and £50 000 will need to join from April...
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