Announced in 2016 for implementation in 2020, landlords have dreaded the arrival of Making Tax Digital (MTD) with the need for quarterly tax returns and automated software. The good news is that it has been delayed once more to at least 2026.
HMRC Delays Making Tax Digital Again
Having missed the target to get new legislation passed by over a year, HMRC have had little choice but to delay 'Making Tax Digital' for landlords until 2024. Our message to landlords remains unchanged - do nothing until it is clear what is required and even then, do not change the way you do things just to comply with HMRC.