Unprepared Self-Employed: Making Tax Digital Reforms
Update: 2025-12-27
Description
Britains self-employed workers, including plumbers and builders, are unprepared for the upcoming Making Tax Digital reforms. A Monzo Bank survey shows that only 4% feel ready, while 60% are not prepared at all. These changes, set to impact 2.9 million people, require digital record-keeping and quarterly updates to HM Revenue and Customs. The reforms start in April 2026 for higher earners, with lower earners following suit, causing a rush early next year. Monzo is urging everyone to prepare now with a new tax filing tool.
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