If you are a sole trader or landlord with (combined) income over £20,000 per year you need to take action now.
You need to be keeping digital records (eg Xero or Zoho Books), up to date bookkeeping, and making quarterly submissions from April 2026* onwards. This means that you will be trying to figure out the new regime at the same time as completing your 2025/26 tax return so we recommend getting your bookkeeping onto software and up to date NOW so that you can complete your 2025/26 tax return asap.
*For those over £50kpa. There is a staggered start for those earning less than this.