HMRC has set out guidance ahead of the second Making Tax Digital for Income Tax quarterly deadline. Sole traders and landlords earning more than £50,000 must send their update by 7 November 2026. HMRC encourages people to file as early as possible after the update period ends.
HMRC stresses that a quarterly update is not a tax return. It is a short summary of self-employment and property income and expenses, sent through compatible software. No tax calculation is made and no payment is due. A customer's overall tax position is calculated only when they submit their tax return for 2026 to 2027.
Anyone who completed the first update in August does not need to recheck their status or contact HMRC. Submission history is available in the HMRC online account or in the software. Mistakes in digital records should be corrected promptly. The correction will appear in the next quarterly update, so earlier updates do not need resending.
HMRC says several software types are recognised, including free options and spreadsheets linked to bridging software. The Self Assessment helpline (0300 200 3310) will run from 9am to 3pm on Saturday 7 November. The Agent Dedicated Line will be closed that day, so agents should use the same helpline. The threshold falls to £30,000 from 6 April 2027 and £20,000 from 6 April 2028.
What it means for your business
If you are a sole trader or landlord above £50,000, confirm your second update is filed through recognised software before 7 November. Check your submission history to confirm the August update went through. If your income is between £20,000 and £50,000, start choosing software now, as the thresholds fall in April 2027 and April 2028.
This brief was written automatically from the source above and summarises it. It is not legal, tax or financial advice.