Quest Business Guide: Making Tax Digital
Making Tax Digital Is Here. Are You Ready?
New Rules, More Reporting and Deadlines You Can’t Ignore.
Making Tax Digital is changing how sole traders and landlords report their income to HMRC. If your qualifying income is over £50,000, the new rules already apply. And from April 2027, the threshold drops to £30,000, then to £20,000 in 2028.
So what does it actually mean for you?
This straightforward guide explains who’s affected, what records you need to keep, and when you’ll have to submit your figures to HMRC. We’ve also answered some common questions and included a practical checklist to help you get organised.
This Guide is for you if ....
- You're self-employed or a landlord and aren't sure whether Making Tax Digital applies to you.
- You want to understand the new reporting rules, software requirements and deadlines.
- You'd rather get organised now than find yourself struggling with HMRC later.
It’s probably not for you if...
- You only earn a salary through PAYE and have no self-employment or rental income.
- You're looking for a guide to Making Tax Digital for VAT rather than Income Tax.
- You want technical instructions for a particular accounting software package.