If your Gross income from self-employed and rent for 25/26 is £50,000 or more, you should keep record of your income/expenses digitally and report them to HMRC via commercial software from April 2026 ( You won’t be able to use HMRC software any longer).

What you have to do for the MTD tax return?

  1. Maintain digital record using accounting software.
  2. Send income/expenses to HMRC quarterly.
  3. Adjust the information at fourth quarter.
  4. Bringing in other income and gains for tax calculation.
  5. Submit the tax return after checking if the calculation is correct.