The Spring budget announced an extension of the MTD scheme to £20k income businesses from April 2028. The limit applies to your total income (not profit) from sole trader business and rental properties.
We are encouraging our clients to be ready from April 2025 so that we have a year to get used to the quarterly deadlines and keeping up to date digital records. For any clients that we put onto the scheme early we will have access to a dedicated MTD team to iron out any glitches.
The official dates and limits are:
April 2026 £50k
April 2027 £30k
April 2028 £20k
TBC limited companies