HMRC guidance explains the procedures for adding or removing income sources within the Making Tax Digital system for self-assessment income tax purposes. The guidance covers the administrative steps required when taxpayers need to update their income source information during the tax year or when circumstances change. This applies to individuals using the digital tax accounts for managing multiple income streams.
Source: HMRC (GOV.UK) – Read the original
HMRC has published guidance on how to complete and submit tax returns using Making Tax Digital for Income Tax software, as well as instructions for making amendments to submitted returns. The resource provides step-by-step information for taxpayers required to use the digital platform for their tax return submissions.
Source: HMRC (GOV.UK) – Read the original
HMRC requires businesses and traders to keep their registered information current and notify the tax authority when significant changes occur. This guidance explains which circumstances trigger a requirement to update records and the timescales for notifying HMRC of those changes. Failure to report relevant changes can result in compliance issues and potential penalties.
Source: HMRC (GOV.UK) – Read the original
HMRC has launched Making Tax Digital for Income Tax, a new digital system for managing Self Assessment. The guidance covers how sole traders, landlords, and their agents will need to use this updated approach to file and manage their tax obligations. This represents a shift towards digital record-keeping and submission for these taxpayer categories. Agents managing client affairs will also need to understand the changes to support their clients’ compliance.
Source: HMRC (GOV.UK) – Read the original
HMRC has initiated a review of its PAYE Manual, which provides operational guidance to staff handling pay-as-you-earn processes for both individuals and employers. The guidance covers the administration of PAYE, a system that manages income tax and national insurance contributions from employees’ wages. Stakeholders and interested parties are invited to submit feedback on the current guidance to support HMRC’s review process. Comments can be directed to the HMRC manuals team at hmrcmanualsteam@hmrc.gov.uk.
Source: HMRC (GOV.UK) – Read the original
This guidance explains how self-employed individuals and property owners must create and maintain digital records of their income and expenses under the Making Tax Digital scheme for income tax purposes. The rules set out the requirements for keeping records in digital format to comply with Making Tax Digital obligations. Digital record-keeping is a mandatory requirement for eligible taxpayers within the scope of this initiative.
Source: HMRC (GOV.UK) – Read the original
This page provides information on accessing various forms of support and assistance, with guidance on how to contact HMRC when needed for help with customs, tax, or trade compliance matters.
Source: HMRC (GOV.UK) – Read the original
HMRC has published guidance defining the types of self-employment and property income that are subject to the Making Tax Digital for Income Tax rules. The guidance helps self-employed individuals and landlords determine whether their income meets the qualifying threshold for mandatory digital reporting requirements. This clarification ensures affected taxpayers understand their MTD obligations and can maintain compliant tax records.
Source: HMRC (GOV.UK) – Read the original
The Individual Savings Account (Amendment) Regulations 2026 proposes raising the annual Cash ISA subscription limit for investors under 65 years old to £12,000, effective from 6 April 2027. This represents a change to the existing allowance for cash-based individual savings accounts in the UK. The regulation is currently subject to technical consultation before finalisation.
Source: HMRC (GOV.UK) – Read the original
HMRC has published guidance on the procedures for taxpayers to add new income sources or remove existing ones within the Making Tax Digital for Income Tax system. The guidance explains the process for managing multiple income streams within the MTD framework. This affects self-employed individuals and other income tax filers who are required to use the Making Tax Digital system.
Source: HMRC (GOV.UK) – Read the original