Definition
A quarterly update is a summary of business or property income and expenses that someone within MTD for Income Tax sends to HMRC through compatible software every three months. Updates are due by 7 August, 7 November, 7 February and 7 May. A quarterly update is not a tax return: the tax year is still finalised in a return submitted by 31 January after the year ends.
Standard update periods
| Update period | Deadline |
|---|---|
| 6 April to 5 July | 7 August |
| 6 April to 5 October | 7 November |
| 6 April to 5 January | 7 February |
| 6 April to 5 April | 7 May |
Each update runs from the start of the tax year, so a mistake can be corrected in the next update without resending earlier ones. You can opt for calendar quarters instead. A separate update is needed for each self-employment and property business.
Penalties
There are no penalties for missing a quarterly update deadline in the 2026/27 tax year. After that, each missed deadline earns a penalty point, and reaching 4 points brings a £200 penalty, with a further £200 for each later missed deadline.
More detail is in MTD quarterly updates explained, and SmartFiling’s MTD for Income Tax service covers the regime.
Related questions
- Does Making Tax Digital for Income Tax apply to me? From 6 April 2026 if your qualifying income was over £50,000 in 2024/25, with the threshold falling to £30,000 and then £20,000.
- Do I pay tax with each quarterly update? No. Updates are information only; tax is paid on the usual Self Assessment dates.
Related terms
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MTD for Income Tax
MTD for Income Tax (Making Tax Digital for Income Tax) requires sole traders and landlords with qualifying income above a threshold to keep digital records…
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Making Tax Digital
Making Tax Digital (MTD) is HMRC's programme requiring businesses to keep digital records and send tax information to HMRC through compatible software.
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Digital records
Digital records are the business records that Making Tax Digital (MTD) requires to be kept in software rather than on paper.
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