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Kirk Rice Blog

Making Tax Digital (MTD) : Rules for Self-Employed from 6 April 2024Written on June 23, 2022 by Kirk Rice LLP

Sole traders who are trading via a self-employed business and who meet the £10,000 gross income test (including income also earned through property) will be brought within the scope of MTD.

This will affect individuals with the following sources where the aggregate of these sources exceeds £10,000 gross (before the deduction of expenses):

  • Income from a trade, profession, vocation or property business.

Partners of general partnerships will join MTD from 6 April 2025.

Specifically excluded from the above at present are business owners operating through a limited company (ie directors) or a limited liability partnership (LLP). A later MTD commencement date will apply to such individuals.

If you are non-UK domiciled or non-UK resident, any foreign business income will be specifically excluded from MTD.

Details of the registration process will follow once clarified by HMRC.

More information concerning MTD will be made available here as and when it is published by HMRC. If you are a client of Kirk Rice LLP we will be contacting you over the course of the next year to discuss these changes and the options available to you. Please bear with us whilst we work through the impact of these changes.

More information will follow over the next few months, but in the meantime, if you would like to discuss how MTD for landlords is likely to affect you please call 01344 875 000 to arrange a call or appointment at an office near you or email info@kirkrice.co.uk.

You can find out more on the Government website.

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