If you've found your way here today, you've probably had the same jolt as thousands of other landlords and sole traders. It’s the MTD deadline today!
Today, 7 August 2026, is the day to file your first-ever Making Tax Digital (MTD) for Income Tax quarterly update. Don’t worry if you forgot about this. You won’t be fined for missing this deadline. But that doesn’t mean you get to rest easy and forget about MTD until the next quarter-end.
This article explains exactly what today’s MTD deadline means, tells you where you stand and suggests steps you need to take if you fail to file your first quarterly update by tonight.
Key Takeaways
- The MTD deadline today, 7 August 2026, is the deadline for the first mandatory quarterly update under Making Tax Digital (MTD) for Income Tax
- You are required to comply with MTD this year if your qualifying income exceeded £50,000 in the 2024/25 tax year
- Qualifying income is measured on a gross basis, so rental income counts before mortgage interest or any other allowable expenses are deducted
- Although there is no penalty for submitting a late quarterly update during the 2026/27 tax year, you cannot complete your Final Declaration, due in January, until all four quarterly updates have been filed
- From April 2027, the soft landing, i.e., the period without penalties, ends, and missing four quarterly updates will trigger a £200 penalty under HMRC's points-based penalty system
- This year’s soft landing only applies to late quarterly updates; late tax payment penalties and interest on any tax owed will apply in full
What’s Actually Due Today?
Today, 7 August 2026, is the deadline to submit your first mandatory quarterly update under MTD for Income Tax. The update covers the period from 6 April to 5 July 2026 and must be submitted using compatible software like RentalBux. RentalBux is both MTD-compatible and HMRC-recognised.
If you don’t know, a quarterly update is a digital summary of your income and expenses for a three-month period. For most landlords, it involves reporting a handful of figures.
What makes today significant is that it is the first quarterly update ever required under MTD. From now on, you must submit four quarterly updates every tax year, with the deadlines being:
Quarter | Period Covered | Deadline |
|---|---|---|
Q1 | 6 April to 5 July | 7 August |
Q2 | 6 July to 5 October | 7 November |
Q3 | 6 October to 5 January | 7 February |
Q4 | 6 January to 5 April | 7 May |
According to HMRC, more than 864,000 landlords and sole traders are within the scope of the ongoing first phase of MTD for Income Tax (those whose qualifying income exceeded £50,000 in the 2024/25 tax year). If you're one of them, you have until today to submit your quarterly update. After today, you'll have missed your first mandatory filing deadline.
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Generic software doesn't understand property businesses and require manual intervention to meet deadlines. That's why we developed RentalBux!
Does the MTD Deadline Today Apply to You?
The MTD deadline today applies to you if your qualifying income exceeded £50,000 on your 2024/25 Self Assessment Tax Return. Qualifying income is your gross self-employment and property income added together, before you deduct a single expense, mortgage interest or allowance.
That word “gross” catches a lot of landlords out. Picture a landlord with £27,000 of self-employment income and £25,000 of rental income. Their qualifying income is £52,000, so they fall within MTD, even if mortgage interest and running costs leave them with only a small taxable profit. HMRC looks at the top line, not what's left at the bottom.
If your combined qualifying income was less than £50,000 on your 2024/25 tax return, today's deadline does not apply to you. However, that won't be the case for long. The MTD qualifying income threshold falls to £30,000 from April 2027 and £20,000 from April 2028.
Know Your MTD Eligibility in 60 Seconds!
It is always best to be sure. So, why not use our MTD checker and find out whether MTD applies to you or not. It's fast and free.
What If You Miss Today's MTD Deadline?
Missing today's MTD deadline doesn't result in an immediate penalty. HMRC introduced a temporary “soft landing” for the 2026/27 tax year, meaning late-submission penalties do not apply to quarterly updates during the first year of MTD.
But don’t let that lull you into a false sense of comfort. The following three things still apply:
- You Can't File Your Tax Return Until All Four Quarterly Updates Have Been Submitted - Missing today's deadline doesn't make the filing work disappear. It simply pushes it into the months ahead, alongside the November and February deadlines.
- The Reprieve is Temporary - From 6 April 2027, missed quarterly updates will fall under the points-based penalty regime provided for in Schedule 24 to the Finance Act 2021. Each missed update earns a penalty point, and once you reach four points, HMRC charges a £200 penalty, with a further £200 for each subsequent missed update while you remain at the penalty threshold.
- Your Tax Bill is Not Part of the Deal - Late-payment penalties and interest, which fall under Schedule 26, apply in full from the outset. The soft landing applies only to late quarterly submissions, not to paying the tax you owe. You're also legally required to keep digital records from 6 April 2026 under the Income Tax (Digital Obligations) Regulations 2026, whether or not you submit your quarterly update on time.
Worked Example: Two Landlords, One Deadline
Helen and Mark both own two properties, bringing in £58,000 a year in gross rental income. Both are above the £50,000 qualifying income threshold, so today's MTD deadline applies to them.
When HMRC wrote to Helen about Making Tax Digital earlier this year, she registered, chose RentalBux and began recording income and expenses as they happened. This allowed her to file her quarterly update in less than 20 minutes today (7 August).
Mark received the same letter but ignored it. He always pushed MTD aside, “meaning to deal with it later.” His rent came into one bank account, repair bills were scattered across emails and paper receipts, and he hadn't kept his digital records up to date. That’s why he’s not ready to file today.
Mark won’t be fined anything for missing today’s MTD deadline. But while Helen will be moving into the next quarter with everything in order, he will have to catch up on the first quarter while keeping records for the second. If he continues delaying, the backlog grows, making his eventual Final Declaration difficult to prepare. If he ends up underpaying the tax he owes, late-payment penalties and interest will apply.
Think of it like a domino effect. Delaying one quarterly submission can disrupt the whole year’s cycle.
What to Do Over the Next Few Days
If you do miss today’s deadline, don’t worry. You can still get back on track.
01
Set Up Compatible MTD Software
You can't submit quarterly updates through the old Self Assessment portal. You need to choose software that can keep digital records and send quarterly updates directly to HMRC. Lucky for you, we offer RentalBux. Designed by accountants for landlords who are done with spreadsheets and the self-employed who need the same calm. RentalBux covers domestic and foreign property, auto-splits joint ownership profits, and files quarterly MTD updates directly to HMRC.
02
Bring Your Records Up to Date
Gather the income you received and the expenses you incurred between 6 April and 5 July 2026, then enter them into your software.
03
Submit Your Quarterly Update
File, even if it's late and not perfect. Updates are cumulative, so a small slip now corrects itself in your next one. A filed update beats a flawless one that never arrives.
04
Get Help
If you haven't registered for MTD, don't have compatible software or need to reconstruct months of records, a specialist accountant like UK Property Accountants can help you.
We're the
MTD Experts
The first quarterly update deadline is here and the second one is closer than you think. Let us handle your registration, record-keeping and software setup requirements, starting from just £30 per month.
Conclusion
ACCA estimates that around 400,000 self-employed people and landlords are on course to miss today's deadline. Fortunately, HMRC’s soft landing means they won’t face any penalty. But that doesn’t mean they don’t have to file the quarterly update at all.
The sooner you catch up with your record-keeping and quarterly filing obligations, the easier MTD becomes. The longer you leave it, the more work you're storing up for yourself.
FAQs
Today's MTD deadline, 7 August 2026, is the due date for the first mandatory quarterly update under MTD for Income Tax. It covers income and expenses for the period from 6 April to 5 July 2026 and must be submitted through MTD-compatible software.
If you're required to use MTD, you should register before your first quarterly update is due. For taxpayers in the first phase of MTD, that means registering in time to submit the first quarterly update by 7 August 2026. If you haven't registered yet, you should do so as soon as possible and file your update.
MTD quarterly updates are due on the 7th day after the end of each quarterly reporting period. For most landlords and sole traders following standard tax-year quarters, the deadlines are 7 August, 7 November, 7 February and 7 May each year.
No. The temporary MTD soft landing does not extend Income Tax payment deadlines. It applies only to late-submission penalties for quarterly updates during the 2026/27 tax year. If you pay your tax late, HMRC can still charge late-payment penalties and interest.
You must use MTD for Income Tax from 6 April 2026 if your qualifying gross income from self-employment and property exceeded £50,000 in the 2024/25 tax year. The threshold falls to £30,000 from April 2027 and £20,000 from April 2028.
No. HMRC's temporary soft landing means you won't receive a late-submission penalty for missing today's quarterly update. However, you still need to submit the update before you can complete your Final Declaration.
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