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TechRadar
TechRadar
Craig Hale

More than half of UK SMBs admit they're not ready for new digital tax deadline

HMRC United Kingdom Lloyds
Completing tax forms digitally.
  • MTD affects UK SMBs and sole traders who earned more than £50,000 in revenue
  • 55%, or 475,000, are still unprepared for the upcoming August 7 submission
  • Lloyds warns many business owners still see it as a major source of confusion

More than half (55%) of Britain's small businesses that are affected by the new Making Tax Digital (MTD) for Income Tax rules are not yet fully prepared for the first submission deadline on August 7 2026, new research has claimed.

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