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HMRC Issues Deadline Warning to 864,000 Taxpayers with Just Two Weeks Left to Act
The new rules require digital records and quarterly updates for taxpayers with income above £50,000, replacing annual Self Assessment.
- HMRC warned 864,000 sole traders and landlords on July 24 that their first Making Tax Digital quarterly update is due by August 7, 2026, for those earning more than £50,000 from self-employment or property.
- Making Tax Digital for Income Tax replaced the annual reporting system on April 6, requiring digital record-keeping. Craig Ogilvie, HMRC's Director of Making Tax Digital, described the shift as "a landmark moment for the tax system."
- Natasha Patterson, a 33-year-old potter from Whitehead, County Antrim, submitted early and said the process took "around 10 minutes," yet David Ashdown of We Are MTD warned, "People should not assume it will all be straightforward at the last minute."
- HMRC confirmed no penalty points will be issued for late quarterly updates during the first year, providing a "soft landing," though taxpayers must still submit their annual Self Assessment tax return by January 31, 2027.
- The scheme will extend to those earning more than £30,000 from April 2027, then over £20,000 from April 2028. Matthew Knight, Chief Freelance Officer at Freelancing Support, warned the true challenge may emerge next year when thresholds drop.
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The Business Times
The Business TimesHMRC issues two-week warning for 864,000 taxpayers
Making Tax Digital became mandatory from April 2026 for sole traders and landlords who are earning over a certain threshold
·London, United Kingdom
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Making Tax Digital 7 Aug Deadline Nears: HMRC's Latest Updates Could Catch Sole Traders and Landlords Off Guard
HMRC has told more than 864,000 sole traders and landlords they have just weeks left to file their first Making Tax Digital quarterly update, with the deadline set for 7 August 2026. The move marks the start of a new reporting system for people whose tax affairs have previously been handled through a familiar annual return. The first wave applies to those with combined gross income from self‑employment and property above £50,000 (approximately $…
·United Kingdom
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Total News Sources17
Leaning Left2Leaning Right2Center10Last UpdatedBias Distribution72% Center
Bias Distribution
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72% Center
14%
C 72%
14%
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