Allowable expenses for sole traders
Sole traders may deduct costs incurred wholly and exclusively for the trade, with separate rules for mixed use, capital purchases and disallowed spending. For 2026/27, compare…
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Sole traders, landlords and MTD
Practical guidance, with links to the sources and relevant IFM services.
All guide topics
Am I in MTD? The income thresholds explained
MTD for Income Tax applies to an in-scope sole trader or landlord when combined gross qualifying income exceeds the threshold for the test year. The thresholds…
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Choosing MTD-compatible software
Choose MTD software only after confirming it appears on HMRC’s compatible-software list and supports every sole trade, property source, quarterly update and final-return task you need.…
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Making Tax Digital for Income Tax: who, when and how
Making Tax Digital for Income Tax requires affected sole traders and landlords to keep digital records, send quarterly updates and complete their return through compatible software.…
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MTD quarterly updates: deadlines and what to send
Standard 2026/27 MTD quarterly updates are due on 7 August 2026, 7 November 2026, 7 February 2027 and 7 May 2027. Each update reports cumulative digital-record…
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Self Assessment deadlines and payments on account
For 2026/27, the usual online Self Assessment return and balancing payment are due by 31 January 2028, while the paper return is due by 31 October…
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Tax for landlords: the essentials
Individual landlords normally pay Income Tax on rental profit after allowable day-to-day expenses, while residential finance costs usually receive a basic-rate tax reduction instead of a…
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