How Making Tax Digital works
Income Tax still gets declared annually, but under MTD you'll do your bookkeeping quarterly.
You'll send 4 quarterly updates, then one final declaration.
Tax year start · 6 Apr
Q1
to 5 Jul
Due 7 Aug
Q2
to 5 Oct
Due 7 Nov
Q3
to 5 Jan
Due 7 Feb
Q4
to 5 Apr
Due 7 May
Final declaration
Tax year start
6 Apr
1
Q1
to 5 Jul
Due 7 Aug
2
Q2
to 5 Oct
Due 7 Nov
3
Q3
to 5 Jan
Due 7 Feb
4
Q4
to 5 Apr
Due 7 May
Quarterly updates
Every 3 months, bring your spreadsheet up to date with new transactions, then send your updated Gross Income and allowable expenses totals to HMRC. These are not tax returns – they are just rough running totals to prove that you are doing regular bookkeeping.
Tax year
ends
Final
Declaration
31 Jan
Final declaration
Mirrors the Self Assessment return – this is where you'll formally declare your tax position for the year.