Meanwhile. Had the radio on earlier, whilst working. An advert came on that I’d never heard before:
An advertising campaign on UK radio and online is promoting awareness of the upcoming Making Tax Digital (MTD) changes, particularly for self-employed individuals and landlords with an annual income over £50,000
. This initiative by HM Revenue & Customs (HMRC) requires affected individuals to keep digital records and submit quarterly updates using compatible software.
Key MTD details for those with £50k income
- Mandatory date: The new rules for MTD for Income Tax Self Assessment (ITSA) will apply from 6 April 2026 for those with a total gross income from self-employment and/or property over £50,000 in the 2024–25 tax year.
- Income threshold: The £50,000 threshold refers to gross income, before any expenses are deducted.
- Quarterly updates: Instead of a single annual tax return, you will need to send HMRC an income and expenditure summary every quarter through MTD-compatible software.
- Final declaration: You will also need to submit a final declaration at the end of the tax year, which replaces the traditional self-assessment.
- Future changes: The income threshold for MTD is set to decrease in subsequent years, applying to those with income over £30,000 from April 2027 and over £20,000 from April 2028.
Why don’t they concentrate on Education, benefit fraud (and lax eligibility), and reducing the number of migrants? That’s too difficult silly. Oh I see. And of course it doesn’t meet their Fabian principles of punishing those who want to succeed and make money, and bringing everyone down to shit level. They like to make everyone poor and unhappy you see. Oh I see. Good now let’s move on and think about how much more money they can get off those ‘non working people’ who actually work and pay 60% of all income tax.