One year until Making Tax Digital for Income Tax launches

Missed a tax deadline? Here’s what it might cost you

Tax deadlines can sneak up on even the most organised business owners, but if you are late filing or paying, the resulting penalties handed out by HM Revenue & Customs (HMRC) could be costly to your business, especially under the latest Making Tax Digital (MTD) rules. So what are the risks, and how can you avoid them? Making Tax Digital – VAT and Income Tax get tougher Under new rules from April 2025, HMRC increased penalties for late payments o…

One year until Making Tax Digital for Income Tax launches

Making Tax Digital for Income Tax starts in April 2026 for sole traders and landlords with qualifying income over £50,000. Making Tax Digital for Income Tax goes live on 6 April 2026 - supporting the government's Plan for Change to deliver economic growth.