HMRC Sets November 7 Deadline for Second MTD Update
HM Revenue and Customs warns sole traders and landlords earning over £50,000 to submit their second quarterly digital tax update by November 7.
The HM Revenue and Customs (HMRC) has issued a warning to sole traders and landlords with annual gross incomes exceeding £50,000 to submit their second quarterly update for Making Tax Digital (MTD) for Income Tax by Saturday, November 7, 2026. The MTD system became mandatory for this group on April 6, 2026, replacing traditional full tax returns with digital summaries of income and expenses.
HMRC clarified that no tax payments are due at the time of these quarterly updates, as there is no tax calculation involved in the submission. Taxpayers may use various software options, including bridging software and free tools. If mistakes are made in an update, they do not need to be resubmitted provided the errors are corrected in the following period.
While no penalties are being issued for missing quarterly deadlines during the 2026-2027 tax year grace period, fines remain in effect for late final tax returns or failure to maintain records. The program is scheduled to expand to those earning over £30,000 in April 2027 and those earning over £20,000 in April 2028.
