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Making Tax Digital, Free and Open @feddit.uk

'Maybe' o/s personal finance app unsustainable say maintainers

  • Yes, that method will stay open under these new rules if a person doesn't meet the requirements. They are targeting specific kinds of income it seems.

  • ...but you can only file that way if the income is NOT from being a sole trader and NOT from property (like rental income) AND is below the thresholds (£50k in 2026, £30k in 2027, £20k in 2028) so far as I understand.

  • Making Tax Digital, Free and Open @feddit.uk

    Software Choices

    Making Tax Digital, Free and Open @feddit.uk

    Companies House: all accounts must be filed using commercial software from 1 April 2027

    Making Tax Digital, Free and Open @feddit.uk

    Who will be affected by Making Tax Digital?

    Welcome

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  • Thanks for this info, very useful!

  • I think the comparison with America could be right!

  • Yes my apologies, this only affects certain people/businesses who are required to submit tax returns, not everyone which I guess was your original question. Might have to add more explanation to our sidebar about who this impacts. Though note that it's not businesses only and if you circumstances change in future it could affect you:

    The changes are expected apply to a wide range of taxpayers, including most businesses, micro-businesses, self-employed people and landlords, as well as individual taxpayers.

    ...from https://en.wikipedia.org/wiki/Making_Tax_Digital

  • Great questions and I agree the word 'digital' is doing a lot of work in the phrase 'making tax digital'

  • The Making Tax Digital initiative will mean you have to go through a software provider in future to file. So far it looks like these providers will all be commercial companies. Some may offer free products but its not guaranteed. Also their software will be proprietary, there are no open source providers (yet?)

    https://en.wikipedia.org/wiki/Making_Tax_Digital

  • Making Tax Digital, Free and Open @feddit.uk

    CIOT, LITRG and ATT express concerns over HMRC’s withdrawal of their online filing service for MTD customers

    Making Tax Digital, Free and Open @feddit.uk

    Welcome