The first quarterly deadline for Making Tax Digital (MTD) for Income Tax has been and gone on 7 August, bringing a new system into effect for hundreds of thousands of sole traders and landlords.

From April 2026, people with more than £50,000 of qualifying income from self employment and/or property rental have been required to keep digital records and to send quarterly updates to HMRC using compatible accounting software, with the first update covering income and expenses from 6 April to 5 July or 1 April to 30 June.