HMRC has published a new collection of guidance on Making Tax Digital for Income Tax Self-Assessment, aimed at those who sign up to MTD for ITSA on a voluntary basis for the tax year 2024/25.
Designed to accompany the testing phase of MTD for ITSA, this new guidance is published in a form not dissimilar to HMRC’s internal guidance manuals, but the colour coding (blue rather than the regular green) and lack of paragraph numbers mark it out as being separate to the Manuals.
The introductory section sets out key milestones for HMRC during the voluntary testing phase including, for example, checking that taxpayers/agents have been able to make their quarterly updates, that payments have been applied to their accounts correctly and balances updated, and noting that MTD for ITSA should be open to most sole traders and landlords from 2025 (still on a voluntary basis).
HMRC has published a new collection of guidance on Making Tax Digital for Income Tax Self-Assessment, aimed at those who sign up to MTD for ITSA on a voluntary basis for the tax year 2024/25.
Designed to accompany the testing phase of MTD for ITSA, this new guidance is published in a form not dissimilar to HMRC’s internal guidance manuals, but the colour coding (blue rather than the regular green) and lack of paragraph numbers mark it out as being separate to the Manuals.
The introductory section sets out key milestones for HMRC during the voluntary testing phase including, for example, checking that taxpayers/agents have been able to make their quarterly updates, that payments have been applied to their accounts correctly and balances updated, and noting that MTD for ITSA should be open to most sole traders and landlords from 2025 (still on a voluntary basis).
