New Year, New Tax Rules: ‘Making Tax Digital’ Made Simple for Landlords and Small Business Owners

A new year is the perfect time to take stock, get organised, and set yourself up for success – including with your tax affairs. And this year, there’s a change on the horizon that every landlord, small business owner, and private taxpayer should know about Making Tax Digital (MTD). While it might sound intimidating, the […]

Tax Made Simple
Tax Made Simple

A new year is the perfect time to take stock, get organised, and set yourself up for success – including with your tax affairs. And this year, there’s a change on the horizon that every landlord, small business owner, and private taxpayer should know about Making Tax Digital (MTD).

While it might sound intimidating, the start of 2026 is an ideal moment to embrace digital record-keeping and reporting, so you can make this change work for you – not the other way around. With the right preparation, MTD can help you stay in control of your finances, reduce year-end stress, and give you a clear picture of your income and expenses throughout the year.

What’s changing in 2026 and 2027?

MTD for Income Tax Self-Assessment will affect individuals earning income from self-employment or property:

  • From April 2026: anyone earning over £50,000 per year will need to comply
  • From April 2027: the threshold drops to £30,000, meaning more landlords and small business owners will need to join

Under MTD, instead of a single annual tax return, you’ll submit quarterly updates to HMRC using approved digital software, followed by an end-of-year declaration. The benefits include fewer last-minute scrambles, more accurate reporting, and greater visibility of your financial situation – if you plan ahead.

Why the new year is the perfect time to prepare

Just as January is the time to set personal resolutions, it’s also the time to set financial resolutions. Preparing for MTD now means you can:

  • Choose the right software for your business or property portfolio
  • Get comfortable with digital record-keeping at your own pace
  • Smooth out any challenges before deadlines arrive
  • Avoid penalties or errors down the line

For landlords with multiple properties, owner-managed businesses juggling day-to-day operations, or private clients with mixed income streams, early preparation makes the transition far easier.

Start the year with confidence

Making Tax Digital doesn’t have to be daunting. With a little preparation and the right guidance, it’s an opportunity to take control, simplify your reporting, and start 2026 with your finances in order.

Our Tax Team regularly helps landlords, small business owners, and private clients navigate these changes. We can help guide you step by step so that you are fully compliant and confident. Make this year the year you take control of your tax – get in touch and let us help you prepare for Making Tax Digital.

Estate Planning and Tax, Insights
12/01/2026
By
Steele Raymond

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