Making Tax Digital for Income Tax Self-Assessment – Autumn Statement 2023

Published by Emily Baldwin on 22 November 2023

Share this article

Following last year’s delayed announcement, the Government has undertaken a review of Making Tax Digital for Income Tax Self-Assessment (MTD ITSA).

Today’s Autumn Statement has seen the release of the outcomes from this review that will impact individuals who are sole traders and/or landlords.  

There are no groundbreaking updates and the timelines do remain the same, with the first phase coming in April 2026. However, it is clear that HMRC has finally listened to the key stakeholders and will be implementing a slight reform with some welcome changes including:  

  • Simplification of quarterly submissions
  • The removal of the previously announced End of Period Statement
  • Easements to reduce the administrative burden for those with jointly owned property
  • Additional exemptions from MTD 
  • Enabling more than one Agent to represent you

HMRC has also made a commitment to consider non-aligned accounting periods, minimum standards for software and improving communications.  

More detail to be released and the regulations are expected to be laid in February 2024. 

Our Autumn Statement 2023 question time webinar is now available to watch on-demand. During the webinar, our panel of tax and business experts came together to examine the changes unveiled by the Chancellor, and to answer your questions. Click here to watch the webinar.  

Alternatively, if you would like any further information or guidance on this topic, get in touch with your usual Kreston Reeves contact or contact us here.

Share this article

Close

Email Emily

    • yes I have read the privacy notice and am happy for Kreston Reeves to use my information





    View teamSubscribe

    Close Expand

    Subscribe to our newsletters

    Our complimentary newsletters and event invitations are designed to provide you with regular updates, insight and guidance.

      • Business, finance and tax issuesPersonal finance, tax, legal and wealth management issuesInternational business issuesCharity and not-for-profit issues
      • Academies and educationAgricultureFinancial servicesLife sciencesManufacturingProfessional practicesProperty and constructionTechnology
      • yes I agree I have read and accept the privacy policy and am happy for Kreston Reeves email communications I have selected above





      You can unsubscribe from our email communications at any time by emailing [email protected] or by clicking the 'unsubscribe' link found on all our email newsletters and event invitations.