Making Tax Digital (MTD) for Income Tax is less than a yearb away but one in three sole traders have never heard of it.
From April 2026, motorsport sole traders earning over £50,000 will be required to quarterly file under MTD for Income Tax, but 31% of them are not aware of the changes. And even those that knew about the planned MTD extension, nearly half (45%) were not prepared, revealed a survey by IRIS Software.