12/10/2026
📢 MTD for Income Tax: first quarterly deadline has passed
The first quarterly submission deadline for the 2026–27 tax year passed on 7 August 2026. HMRC has confirmed that 436,000 taxpayers filed their first quarterly update by the deadline. 🧾
However, HMRC also revealed that, as of 12 August, over 570,000 taxpayers had signed up for MTD for Income Tax. With around 864,000 taxpayers expected to need to register from April 2026, a significant number still haven’t signed up. ⚠️
🔎 What is HMRC doing?
From September, HMRC will begin signing up taxpayers who are required to use MTD for Income Tax for 2026–27 but have not registered themselves.
You can avoid being signed up by HMRC by registering now and making sure your MTD details are correct from the outset.
MTD for Income Tax is a legal requirement for sole traders and landlords earning more than £50,000 from self-employment and property, unless exempt. From April 2027, the threshold will reduce to £30,000. 💻
💷 What about penalties?
There will be no penalty points for late quarterly updates during 2026–27, but penalties will still apply for late tax returns and payments.
Remember, quarterly updates do not replace your Self Assessment tax return.
From 6 April 2027, a points-based penalty system will apply, with taxpayers receiving one point for each missed quarterly deadline and a £200 fixed penalty once four points are reached. 🚨
👉 If you haven’t registered for MTD for Income Tax and are concerned it may apply to you, or you receive a letter from HMRC, contact us as soon as possible. We can help you understand your obligations and navigate the registration process. Call us on 01670 514433 or email us at [email protected]
