More than 436,000 sole traders and landlords sent HMRC their first quarterly update under Making Tax Digital for Income Tax by the 7 August deadline. The rules apply to anyone earning over £50,000 a year from self-employment or property since April 2026, and the threshold drops to £30,000 from April 2027. The second quarter (6 July to 5 October) must be submitted by 7 November 2026. HMRC says it will not issue penalty points for late quarterly updates during 2026/27, but a points-based penalty system starts from April 2027.