Last updated: 09 Apr 2024 11:00 Posted in:
HMRC is reminding agents that their clients can sign up to trial Making Tax Digital for Income Tax Self Assessment (MTD ITSA) on Wednesday 22 April.
MTD ITSA requires a taxpayer to keep digital records and send quarterly updates to HMRC using compatible software.
The requirements will apply to individuals with gross trade or property income of £50,000 or more from April 2026. More taxpayers will be brought within the rules from April 2027 when the limit drops to £30,000.
Taking part will involve using software compatible with MTD ITSA in private beta testing, and the agent will need an agent services account. HMRC will publish more information about how the testing will work in the week commencing 22 April 2024.
HMRC’s Director of MTD, Craig Ogilvie, said: “We want to ensure that this service meets the needs of you and your clients. To support this we are expanding our testing programme criteria for MTD ITSA. You will be able to sign up your clients from 22 April 2024. Taking part will involve using software compatible with MTD to keep digital records and submit quarterly updates. This will give you the opportunity to get ahead of MTD changes with selected client(s) before it becomes mandatory with access to our dedicated MTD customer support team.”