With days until Making Tax Digital for Income Tax goes live for £50,000 plus landlords and self employed, HMRC clarifies exit options and cessation process
The clarification is welcome news and affects taxpayers who have been notified by HMRC that they must sign up to wave one of MTD from 6 April 2026 because they had qualifying income over £50,000 for the tax year 2024-25.
There has been a great deal of concern about the fairness of having to sign up to MTD if the taxpayer’s qualifying income has fallen below £50,000 since 1 February 2025, and questions about why HMRC is still requiring them to register for the quarterly reporting regime.
Now HMRC head of MTD confirms that there are ways to opt out, depending on various factors, stressing that a phone call to HMRC or communication on HMRC web chat will secure a cessation.
