Making Tax Digital – what do I need to know?

Landlords earning more than £20,000 a year from their property business will need to use new software to record and submit their tax return as of 2028. 

The rolling programme, which has already been introduced to all VAT-registered businesses, will be extended to Self-Assessment taxpayers – including many landlords – within the coming years, with those whose earnings are on the higher end of the scale to be impacted soonest. 

The new requirement is the latest announcement under the Government’s Making Tax Digital programme and was announced by the Chancellor in last week’s Spring Statement.  [More on NRLA..( https://www.nrla.org.uk/news/making-tax-digital )]