New HMRC Income Tax rules coming in 9 months

New HMRC Income Tax rules coming in 9 months

There's less than nine months left until sole traders and landlords earning more than £50,000 will need to adopt Making Tax Digital (MTD) for Income Tax. This significant change, set to launch on 6 April 2026, will require these people to maintain digital records and report their income to HM Revenue and Customs (HMRC), ultimately saving them time, officials say.

By maintaining digital records throughout the year, sole traders and landlords can save hours previously spent gathering information at tax return time. This allows them to focus more on their business activities, the government says.

HMRC estimates that around 780,000 self-employed people and landlords will be required to use MTD for Income Tax from April 2026, with an additional