On Apr. 22, UK HMRC issued guidance on use for income tax 2024/25.
Guidance for sole traders, landlords and agents who want to volunteer to use and test UK HMRC's new way of reporting income and expenses for the tax year 2024 to 2025.
Follows UK HMRC Feb. 2024 issued policy for sole traders and landlords, see #202233.
Guidance is about what to do after volunteers sign up, but get started summarizes what they all need to do in advance, including choosing and authorizing their software.
Guidance is split into Introduction - About Making Tax Digital for Income Tax and what to expect this year, Get started - How to choose the software to use and to sign up.
Also on the Digital records - How to keep digital records of your income and expenses, and Quarterly updates - How and when to send the updates, based on account period.
In addition Adjustments to business income - How to make adjustments after sending final quarterly update, as well as Finalize income tax position - How to file the Self Assessment tax return while volunteering to use Making Tax Digital for Income Tax.
There is also a Help and support section to find help from UK HMRC, if it is needed.
