Now that the first 2026/27 quarter of Making Tax Digital (MTD) for income tax has ended (6 April 2026 to 5 July 2026, or 1 April 2026 to 30 June 2026 if a calendar quarters election was submitted on time), we are encouraging members to support those mandated in 2026/27 to get all clients signed up to MTD for income tax and to make all necessary preparations to file on time. The first quarterly update submission deadline is just over one month away on 7 August 2026. Although no penalties are being charged in 2026/27 for late quarterly submissions, taxpayers are encouraged to be compliant with the rules as early as possible. HMRC has also notified us that the services for taxpayers to sign-up to MTD for income tax, and for agents to sign-up clients, will be closed later this week from 5pm on Friday 10 July to 9am on Monday 13 July.
Readers are reminded that taxpayers must continue to maintain digital records and submit all four quarterly updates before they can submit their final declaration. Penalties will be charged where final declarations are submitted late and are based on the rules for late submission of returns which were first introduced for VAT in 2023.
Note that a calendar quarter election must have been made before the first quarterly update and once made applies for the entire tax year.
Should members have any queries, they should first use the Institute’s MTD hub to check if their query is covered. Members can also email tax@charteredaccountants.ie for support as the Institute continues to participate in a Professional Body led MTD group which discusses and triages issues on MTD for income tax before feeding these directly to HMRC for responses.
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