Prime Accountants warns thousands still left to register for MTD as 7 August deadline hits
By Paislei Godley, Director
Prime Accountants warns thousands still left to register for MTD as 7 August deadline hits
The first quarterly Making Tax Digital (MTD) for Income Tax return deadline is now less than two days away, on 7 August.
However, with hundreds of thousands of people who meet the £50,000 threshold still yet to register, Prime Accountants is calling on local sole traders and landlords to take action.
Paislei Godley, a Director at Prime, said: “We have been astounded at the sheer number of people that still haven’t signed up to MTD.
“Industry insight suggests that many people are still unaware that the changes apply to them.”
HMRC only grants exemptions to this landmark tax change where age, a health condition or disability prevents someone from using digital devices or where religious beliefs are incompatible with digital communication.
Where there is no internet access at home, at work or at a suitable alternative location, HMRC may also grant an exemption, but this must be claimed by taxpayers. Otherwise the tax authority will expect them to comply.
Paislei said: “With the first filing deadline here, we are urging people to register for MTD if they haven’t already, so their returns can be completed on time.”
If you earned more than £50,000 as a sole trader or landlord in the 2024/25 tax year, you must be registered for MTD now.
With the MTD threshold falling to £30,000 in 2027 and £20,000 in 2028, more people will need support from an accountant to meet the new requirements.
Paislei said: “Choosing the right specialist software for quarterly reporting requires expert advice, as HMRC is not providing free software.
“Although HMRC may not impose penalties this year, filing under MTD is still a legal requirement. Following the rules now will help avoid bigger problems when penalties begin next year.”
