Landlords ‘unprepared’ for Making Tax Digital as first deadline approaches
Summary
The article reports that the first Making Tax Digital deadline is imminent, with concerns that many landlords and sole traders have not yet signed up or are unaware of the new requirements. It cites survey findings suggesting a significant proportion still need to register with HMRC and use approved software for quarterly returns.
Why it matters
Residential property surveyors may encounter landlords affected by MTD compliance changes, particularly where tax administration influences portfolio management or transaction readiness. Understanding the deadline and registration requirements helps surveyors signpost clients to appropriate professional advice where needed.
Key points
- First MTD deadline is 7 August for qualifying landlords and sole traders.
- Landlords with annual revenues above £50,000 must submit quarterly returns using HMRC-approved software.
- Survey data suggests 22% of owners do not know about the changes and 25% have not signed up with HMRC.
- Tide is running awareness events in Manchester, London and Brighton to encourage registration and first submissions.
- The article warns that missed deadlines may lead to accumulating penalties.
This is an RPSA summary of a publicly available article. The full content remains with the original publisher.
