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HMRC sends warning to landlords, freelancers and side hustlers over major tax change
HMRC says affected taxpayers will need digital records, quarterly updates and a final declaration as the income threshold starts at £50,000.
- HMRC is contacting thousands of landlords, freelancers, and self-employed workers about the rollout of Making Tax Digital for Income Tax, a major rule change that will soon become a legal requirement altering how individuals report Self-employment and Rental income.
- Under Making Tax Digital, phased rules apply from April 2026 for people with turnover above £50,000, April 2027 above £30,000, and April 2028 above £20,000. Thresholds are based on total turnover rather than profit, potentially catching Businesses Landlords Joint with modest earnings.
- HMRC warns that crossing thresholds makes compliance a "legal requirement." Taxpayers must keep digital records, use compatible software, submit quarterly updates, and complete a final declaration annually instead of filing one Self Assessment tax return.
- To help those without accountants or bookkeepers, HMRC is offering webinars and guidance. The authority urges customers to start "making informed software choices" and consider "practical steps you can take to prepare your business" before legal deadlines.
- Someone earning rental income alongside freelance work could breach limits unexpectedly because thresholds are based on turnover before expenses, experts caution. The final £20,000 threshold from 2028 is expected to draw in huge numbers of smaller Businesses Landlords Joint.
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26 Articles
26 Articles
bucksfreepress.co.uk+2 Reposted by 2 other sources
HMRC warns thousands of landlords and freelancers ahead of key MTD dates
Landlords, freelancers and self-employed workers are now receiving warnings from HMRC about a major tax rule change that will soon become a legal…
·High Wycombe, United Kingdom
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Craven Herald+21 Reposted by 21 other sources
HMRC sends warning to landlords, freelancers and side hustlers over major tax change
Landlords, freelancers and self-employed workers are now receiving warnings from HMRC about a major tax rule change that will soon become a legal requirement
·Skipton, United Kingdom
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Total News Sources26
Leaning Left0Leaning Right1Center23Last UpdatedBias Distribution96% Center
Bias Distribution
- 96% of the sources are Center
96% Center
C 96%
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