'Millions of sole traders and landlords have just months to prepare for massive changes to the tax system that take effect next year.
From 6 April 2026, Making Tax Digital for Income Tax Self Assessment (MTD ITSA) will apply to sole traders and landlords whose combined gross income from self-employment and/or property exceeds £50,000 a year. If this applies to you, you’ll need to keep digital records and use HMRC-compatible software to submit four quarterly updates and then a ‘final declaration’ to HMRC each year. This will replace the current self-assessment tax return.'
If you’re a sole trader and/or landlord with a qualifying income of more than £50,000 for the 2024/25 tax year, you’ll need to comply with MTD from 6 April 2026. The threshold falls to £30,000 from April 2027, and then to £20,000 in April 2028.
Source
Anyone from the UK have any thoughts on this?
Heckling people that arne't even making much more than £30k per year is fucking ridiculous.
The claim is that it's to help balance a massive tax gap with Gordon Brown yesterday emphasising that Britain is the poorest it's been in 60 years.
This is the same fucker that sold half the country's gold at record low prices, and the rates have sky rocketed right now. Well done Gordon.
Of course two things that never seem to change despite everyone apparently being ridden in poverty :
- the unemployed, who've got no real reason to be unemployed (eg arne't in a coma or dying of illness etc) getting their share of 'benefits', these are the same kind of people that seem to hoard and misuse nhs and other public services too. I've seen people even in there 50s and 60s that have barely worked a day in their life but complain about how bad the govenrment, the same government feeding, housing and clothing their juvenille asses, are
- If you got here on a rubber boat and don't even have a damn work visa, let alone a passport, you get to stay in five star hotels 'on the house' until they move you in to a new builds that are nigh impossible for most youngsters to even afford at all, or take decades to pa off. Of course it's NOT 'on the house' though is it? It's actually at the taxpayers that they continue to ring like fucking towels.
Might be time to seriously start considering moving abroad. I can see for most millionaires that boat has already set sailed. Might even be time for the average joe with any work ethic and sense of self-respect to follow suit too.
From 6 April 2026, Making Tax Digital for Income Tax Self Assessment (MTD ITSA) will apply to sole traders and landlords whose combined gross income from self-employment and/or property exceeds £50,000 a year. If this applies to you, you’ll need to keep digital records and use HMRC-compatible software to submit four quarterly updates and then a ‘final declaration’ to HMRC each year. This will replace the current self-assessment tax return.'
If you’re a sole trader and/or landlord with a qualifying income of more than £50,000 for the 2024/25 tax year, you’ll need to comply with MTD from 6 April 2026. The threshold falls to £30,000 from April 2027, and then to £20,000 in April 2028.
Source
Anyone from the UK have any thoughts on this?
Heckling people that arne't even making much more than £30k per year is fucking ridiculous.
The claim is that it's to help balance a massive tax gap with Gordon Brown yesterday emphasising that Britain is the poorest it's been in 60 years.
This is the same fucker that sold half the country's gold at record low prices, and the rates have sky rocketed right now. Well done Gordon.
Of course two things that never seem to change despite everyone apparently being ridden in poverty :
- the unemployed, who've got no real reason to be unemployed (eg arne't in a coma or dying of illness etc) getting their share of 'benefits', these are the same kind of people that seem to hoard and misuse nhs and other public services too. I've seen people even in there 50s and 60s that have barely worked a day in their life but complain about how bad the govenrment, the same government feeding, housing and clothing their juvenille asses, are
- If you got here on a rubber boat and don't even have a damn work visa, let alone a passport, you get to stay in five star hotels 'on the house' until they move you in to a new builds that are nigh impossible for most youngsters to even afford at all, or take decades to pa off. Of course it's NOT 'on the house' though is it? It's actually at the taxpayers that they continue to ring like fucking towels.
Might be time to seriously start considering moving abroad. I can see for most millionaires that boat has already set sailed. Might even be time for the average joe with any work ethic and sense of self-respect to follow suit too.
. Thankfully I stay in buddhist country most the time. Somehow I feel that I actually have less muslim drama than people living in UK, Germany, etc.
