Self-assessment: Landlords and Sole Traders
Lords · Question HL7991 · Tabled 2 Jun 2025 · Treasury · Official record
Answered 16 Jun 2025
Question
Asked by Lord Strasburger
To ask His Majesty's Government what are the benefits to HMRC and to affected taxpayers of requiring sole traders and landlords to quadruple the frequency and associated costs of their submissions to HMRC from annually to quarterly, starting in April 2026
Answer
Answered by Lord Livermore, 16 Jun 2025
Making Tax Digital (MTD) for Income Tax quarterly updates are not the same as full tax returns. They are simple summaries of income and expenses. Software will automatically draw data from a taxpayer’s digital records, and, where these are up to date, the...