{"id":30881,"date":"2025-03-14T10:04:02","date_gmt":"2025-03-14T10:04:02","guid":{"rendered":"https:\/\/www.langricks.com\/?p=30881"},"modified":"2025-03-14T10:04:02","modified_gmt":"2025-03-14T10:04:02","slug":"making-tax-digital-for-income-tax-is-coming","status":"publish","type":"post","link":"https:\/\/dev.withcreative.co.uk\/langricks\/making-tax-digital-for-income-tax-is-coming\/","title":{"rendered":"Making Tax Digital for Income Tax is coming&#8230;."},"content":{"rendered":"<h3>If you are a landlord or a sole trader with total revenue of over \u00a350,000 you will need to sign up to MTD using compatible software from 6 April 2026.<\/h3>\n<h3>If you earn more than \u00a330,000 your MTD requirements are from 6 April 2027.<\/h3>\n<p>&nbsp;<\/p>\n<p>For those earning an income from digital platforms they will need to consider the below:<\/p>\n<p>&nbsp;<\/p>\n<p>Starting in early 2024, platforms like eBay must share user earnings with HMRC. This isn&#8217;t a new tax but an extension of current rules. If your self-employed income tops \u00a31,000, report it to HMRC. Stay informed and manage your tax obligations.<\/p>\n<p>&nbsp;<\/p>\n<p>Selling occasionally? You might not need to file taxes. But if you&#8217;re selling often and earning over \u00a31,000, report it to HMRC.<\/p>\n<p>&nbsp;<\/p>\n<p>Good news for entrepreneurs and side hustlers: Starting in 2029, the self-assessment tax return threshold will increase from \u00a31,000 to \u00a33,000, benefiting 300,000 taxpayers. This change will allow 90,000 individuals to skip reporting their trading income, freeing up time to grow their businesses. A new online form will also simplify declaring cash earnings up to \u00a33,000.<\/p>\n<p>&nbsp;<\/p>\n<p>If you are affected by the above and wish to discuss your tax position please get in touch with us.<\/p>\n<p>&nbsp;<\/p>\n","protected":false},"excerpt":{"rendered":"<p>If you are a landlord or a sole trader with total revenue of over \u00a350,000 you will need to sign up to MTD using compatible software from 6 April 2026. If you earn more than \u00a330,000 your MTD requirements are from 6 April 2027. &nbsp; For those earning an income from digital platforms they will [&hellip;]<\/p>\n","protected":false},"author":5,"featured_media":30902,"comment_status":"closed","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"content-type":"","footnotes":""},"categories":[1,21],"tags":[],"class_list":["post-30881","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-blog-articles","category-accountancy-news"],"yoast_head":"<!-- This site is optimized with the Yoast SEO plugin v27.0 - https:\/\/yoast.com\/product\/yoast-seo-wordpress\/ -->\n<title>Making Tax Digital for Income Tax is coming.... - Langricks Chartered Accountants and Business Advisers<\/title>\n<meta name=\"robots\" content=\"index, follow, max-snippet:-1, max-image-preview:large, max-video-preview:-1\" \/>\n<link rel=\"canonical\" href=\"https:\/\/dev.withcreative.co.uk\/langricks\/making-tax-digital-for-income-tax-is-coming\/\" \/>\n<meta property=\"og:locale\" content=\"en_GB\" \/>\n<meta property=\"og:type\" content=\"article\" \/>\n<meta property=\"og:title\" content=\"Making Tax Digital for Income Tax is coming.... - Langricks Chartered Accountants and Business Advisers\" \/>\n<meta property=\"og:description\" content=\"If you are a landlord or a sole trader with total revenue of over \u00a350,000 you will need to sign up to MTD using compatible software from 6 April 2026. 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