MTD plan

Qualifying income £40,000.00 · as-of 2027-09-01

Qualifying income £40,000 meets £30,000+ from 6 Apr 2027.

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Quarterly calendar (2027/28)

Tax / NI sketch

rUK 2026/27 illustrative bands. Ignores savings/dividend stacking, Scottish rates, student loans, loss relief, capital allowances detail, and Class 2. Not a Self Assessment substitute.

Penalty exposure

Submission points: 3 → financial £0. Points-based late submission: 4 points triggers £200, then £200 per further missed deadline.

Late payment (0d): penalty £0.00 · interest illus. £0.00 · total extra £0.00

Ordered next steps

1. Qualifying income £40,000 meets £30,000+ from 6 Apr 2027. Mandation from 2027-04-06 (already in force for this as-of date).
2. Next quarterly update deadline on the current tax-year calendar: 2027-11-07 (Q2 (6 Jul–5 Oct) due 7 Nov) — 67 day(s) remaining.
3. Illustrative liability on entered profits: Income Tax £3,086.00 + Class 4 NI £925.80 = £4,011.80. Sketch payments on account ~£2,005.90 each (31 Jan / 31 Jul).
4. Keep digital records continuously and send each quarterly update through MTD-compatible software before the deadline.
5. Points-based late submission: 4 points triggers £200, then £200 per further missed deadline.
6. Pay balancing amounts by 31 January (and keep payments on account on track) to avoid the late-payment ladder and interest.
7. Read HMRC’s MTD for Income Tax guidance for landlords/sole traders and join the webinars or GOV.UK sign-up path when your cohort opens.
8. Save this share for your bookkeeper/agent and re-run if turnover crosses the next threshold (£50k → £30k → £20k).