As previously mentioned Making Tax Digital and quarterly reports are incoming. Rachel Reeves confirmed that the threshold for participation has officially been set at £20,000 from April 2028. This is probably a year earlier than she suggested before Christmas. She had said that it would happen before the end of the current parliament.
Is brining it forward to 2028 a sign that they don’t think they will still be around in 2029? Probably not. It really just makes sense that once it comes in from April 2026 for those with £50,000 of turnover, and then £30,000 from April 2027, to continue the year after with the new £20,000 threshold.
As ever though leave this until the last minute and it will likely be a little messy! Definitely better to get on with it sooner rather than later.