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MTD Deadline Approaches for Self-Assessments | Leeds News
Making Tax Digital is here to change how you file taxes—starting August 7, sole traders and landlords earning over $50K annually must submit their first quarterly update, affecting 864,000 people. Most are relying on accountants to navigate the system, with nearly 170,000 signing up through tax agents. The government’s pushing this to reduce errors and close the tax gap, modernizing tax compliance like other nations. Don’t panic if you’re below the $50K threshold—HMRC’s rolling out lower thresholds, including $30K, in the coming years. This is about smoother, more accurate digital tax…
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