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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 of this bold statement will have been and gone by the time MTD for income tax self-assessment (MTD for ITSA) is finally launched in April 2026. This article looks at where recent announcements have left us on the road to MTD for ITSA and where we need to get to in the next few years.
Who is in and when?
It was confirmed in December 2022 that the introduction of MTD for ITSA for landlords and self-employed individuals will be phased with the exact start date dependent on a taxpayer’s income:
- Those with gross income of more...
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