Taxation logo taxation mission text

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

MTD for income tax – a developer perspective

16 January 2023 / Kevin Sefton
Issue: 4872 / Categories: Comment & Analysis
106620
All for nothing?

Shortly before Christmas 2022 as readers will be aware the government announced that making tax digital (MTD) for income tax is to be delayed until April 2026 and then with a much smaller mandation cohort.

As accountants and bookkeepers banks and financial institutions and other intermediaries review business plans with significantly less reliance on MTD for income tax what will it mean for software developers who have invested significantly in the programme?

The new timetable and scope for MTD for income tax replaces the previous schedule published in September 2021 which had set mandation in 2024 for the four million plus people with self-employment income or property income of £10 000 or more (about one-third of the 12 million people who have to file a tax return each year under self assessment).

The newly announced schedule is:

  • the initial mandation threshold will be £50 000...

If you or your firm subscribes to Taxation.co.uk, 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 'customer.services@lexisnexis.co.uk' for further assistance.

back to top icon