The first quarterly submission deadline under Making Tax Digital (MTD) for Income Tax is 7 August 2026, giving affected sole traders and landlords just a few weeks to ensure they are prepared.
If you are within MTD from 6 April 2026, you’ll need to submit your first quarterly update to HMRC covering the period from 6 April to 5 July 2026.
For many taxpayers, this will be the first time they’ve had to report information to HMRC on a quarterly basis rather than through an annual Self Assessment tax return.
Who does it apply to?
MTD for Income Tax applies from 6 April 2026 to sole traders and landlords who had qualifying gross income over £50,000 on their 2024/25 tax return.
The thresholds will reduce to £30,000 from April 2027 and £20,000 from April 2028.
What do you need to do?
If you’re affected by MTD, you must:
- Keep digital records of income and expenses
- Use MTD-compatible software
- Submit quarterly updates to HMRC
- Complete a final declaration after the end of the tax year (the self-assessment tax return)
The first quarterly update must be submitted by 7 August 2026.
A reminder: quarterly updates aren’t tax returns
One of the most common misconceptions is that quarterly updates replace your tax return.
This isn’t the case. Quarterly updates are a summary of your income and expenses submitted through compatible software. No tax payment is due alongside the update, and you’ll still need to complete a final declaration after the tax year end.
Don’t leave it until the last minute
If you haven’t yet reviewed your records, software or reporting processes, now is the time to do so.
Leaving preparation until the final few days before the deadline can create unnecessary pressure and increase the risk of errors.
How PM+M can help
Whether you’re unsure if MTD applies to you, need help choosing software or would like support with your quarterly submissions, we’re here to help.
Get in touch with our team to make sure you’re ready for the first MTD deadline and the move to quarterly reporting.
