The first Making Tax Digital (MTD) for Income Tax deadline has passed. Sole traders and landlords within the scope of the new rules were required to submit their first quarterly update to HMRC by 7 August 2026. However, the absence of penalty points for late quarterly updates during the 2026\u201327 tax year does not mean these obligations can be ignored. All required updates must still be submitted using compatible software.<\/p>\n\n\n\n
It is important to understand the difference between MTD quarterly updates and a Self Assessment tax return. Quarterly updates provide summaries of income and expenses for the relevant period, while the annual tax return brings together income for the full tax year, necessary adjustments, tax reliefs and other taxable income. One does not replace the other.<\/p>\n\n\n\n
For those joining MTD for the first time in April 2026, the Self Assessment tax return for the 2025\u201326 tax year must still be submitted under the usual rules by 31 January 2027. For the 2026\u201327 tax year, the annual tax return will be submitted through MTD-compatible software, and all required quarterly updates must be sent before the return can be submitted. Therefore, even though penalty points are not being issued for late quarterly updates this year, missing required submissions can still complicate your tax compliance.<\/p>\n\n\n\n
If you are self-employed or receive rental income in the UK, now is a good time to check whether you are registered for MTD, keeping digital records and up to date with all required quarterly submissions. Capital Accountants can help you understand HMRC requirements, prepare for upcoming deadlines and keep your tax affairs in order.<\/p>\n","protected":false},"excerpt":{"rendered":"
The first Making Tax Digital (MTD) for Income Tax deadline has passed. Sole traders and landlords within the scope of the new rules were required to submit their first quarterly update to HMRC by 7 August 2026. However, the absence of penalty points for late quarterly updates during the 2026\u201327 tax year does not mean…
Read more<\/a><\/p>\n","protected":false},"author":1,"featured_media":2225,"comment_status":"closed","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[1],"tags":[],"class_list":["post-2218","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-uncategorized"],"_links":{"self":[{"href":"https:\/\/capitalaccountants.co.uk\/index.php\/wp-json\/wp\/v2\/posts\/2218","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/capitalaccountants.co.uk\/index.php\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/capitalaccountants.co.uk\/index.php\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/capitalaccountants.co.uk\/index.php\/wp-json\/wp\/v2\/users\/1"}],"replies":[{"embeddable":true,"href":"https:\/\/capitalaccountants.co.uk\/index.php\/wp-json\/wp\/v2\/comments?post=2218"}],"version-history":[{"count":1,"href":"https:\/\/capitalaccountants.co.uk\/index.php\/wp-json\/wp\/v2\/posts\/2218\/revisions"}],"predecessor-version":[{"id":2229,"href":"https:\/\/capitalaccountants.co.uk\/index.php\/wp-json\/wp\/v2\/posts\/2218\/revisions\/2229"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/capitalaccountants.co.uk\/index.php\/wp-json\/wp\/v2\/media\/2225"}],"wp:attachment":[{"href":"https:\/\/capitalaccountants.co.uk\/index.php\/wp-json\/wp\/v2\/media?parent=2218"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/capitalaccountants.co.uk\/index.php\/wp-json\/wp\/v2\/categories?post=2218"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/capitalaccountants.co.uk\/index.php\/wp-json\/wp\/v2\/tags?post=2218"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}