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07/03/25 16:17

MTD Income Tax April 2026


It's not being talked about, but around this time next year, HMRC will introduce mandatory quarterly Accounts reporting by all businesses with a Turnover in excess of £50,000 (and this includes rental income). It's going to be a massive burden and a headache for business, and it is going to cost. Accountants did not want this measure. The Quarterly Accounts will not even create an Income Tax liability. That will still come from your Annual Tax Return, a separate Whole of Year Report. As a business, if you have existing Accounts software, you need to enquire if your provider will develop a product that you can operate. If you do not use software, you will need to discuss with your accountants and pay for this additional new requirement. HMRC will have a programme of penalty costs for failure to comply. Please feel free to DM us if you have any questions.02844 616413
MTD Income Tax April 2026

13 English Street Downpatrick BT30 6AB


Written by: Norman Elliott FCA
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