In April 2026, the government introduced new, quarterly reporting criteria for certain self-employed individuals. Over the next 2 years, this will increase to include many more people who earn from self-employment or property.
What are the criteria?
At present, anyone who’s annual turnover for the financial year ending 5th April 2025 exceeded £50,000 will be required to report their income and expenses every 3 months.
The current timeline for financial year 6th April 2026 – 5th April 2027 is:
| Income from 6th April – 5th July 26. | Submission Deadline 7th August 2026 |
| Income from 6th July – 5th October 26. | Submission Deadline 7th November 2026 |
| Income from 6th October 26 – 5th January 27. | Submission Deadline 7th February 2027 |
| Income from 6th January – 5th April 27. | Submission Deadline 7th May 2027 |
| Income from pensions, savings & Investments. | Must be declared by 31st January 2028 |
Don’t forget, this relates to annual turnover exceeding £50,000, NOT PROFIT.
So even if your expenses resulted in little or no profit, if your turnover exceeded £50,000 between 6th April 2024 and 5th April 2025, MTD applies to you now.
Don’t worry if you didn’t realise. IMF Coult can still sign you up and process your MTD returns. You don’t need any specialist software; we already have it in place.
The next stages:
From April 2027, the criteria will expand as follows:
| Commencing 6th April 2027. | Applies to turnover exceeding £30,000 during financial year ending 5th April 2026. |
| Commencing 6th April 2028. | Applies to turnover exceeding £20,000 during financial year ending 5th April 2027. |
If you would like to discuss MTD and find out whether you are, or will be affected, please feel free to call and speak to our MTD Co-ordinator.