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  "path": "/money/hmrc-warning-self-employed-workers-face-fines",
  "publishedAt": "2026-05-29T17:58:16.000Z",
  "site": "https://www.gbnews.com",
  "tags": [
    "‘Economic vandalism!’ Landlord rages at Labour as ‘nice pub tax’ to hit nation’s boozers",
    "Rachel Reeves delays ISA overhaul after tax loophole exposed in savings crackdown",
    "Transgender taxpayers given access to HMRC fast-track hotline used by MPs and royals",
    "The GB News Editorial Charter"
  ],
  "textContent": "\n\n\nHundreds of thousands of self-employed workers across Britain are being warned to prepare for a major HM Revenue and Customs (HMRC) deadline as new quarterly tax reporting rules begin taking effect.\n\nThe changes form part of the Government’s Making Tax Digital initiative, which officially launched for affected taxpayers on April 6.\n\n###\n\n\n\n\nUnder the new system, sole traders, landlords and other self-employed workers earning more than £50,000 annually must begin keeping digital tax records.\n\nThey must also submit updates to HMRC every three months using approved software.\n\nFor many workers entering the scheme for the first time, the initial mandatory submission deadline falls on August 7.\n\n###\n\n\n\n\nTRENDING\n\nStories\n\nVideos\n\nYour Say\n\n###\n\n\n\n\nThe reforms represent one of the biggest changes to the self-assessment system in recent years, replacing the traditional process of submitting a single annual tax return.\n\nAffected taxpayers are now required to maintain digital records of income and expenses throughout the year before sending quarterly updates directly to HMRC.\n\nResearch carried out by accounting software company Sage suggested many workers remain unaware of the new obligations despite the approaching deadline.\n\nThe survey found just 37 per cent of sole traders knew about the August reporting deadline.\n\nOnly eight per cent of those surveyed said they were currently using digital software to manage their tax records.\n\n###\n\n\n\n\n###\n\n\n\n\n###\n\n\n\n\nHMRC has also introduced a new points-based penalty regime linked to Making Tax Digital for Income Tax.\n\nUnder the system, taxpayers receive one penalty point each time they miss a quarterly submission deadline after the 2026/27 tax return deadline.\n\nOnce four penalty points have been accumulated, HMRC can issue a £200 fine.\n\nFurther missed deadlines after that point can trigger additional £200 penalties.\n\nSeparate late payment charges may also apply, depending on how long outstanding tax bills remain unpaid.\n\n### LATEST DEVELOPMENTS\n\n\n\n\n  * ‘Economic vandalism!’ Landlord rages at Labour as ‘nice pub tax’ to hit nation’s boozers\n  * Rachel Reeves delays ISA overhaul after tax loophole exposed in savings crackdown\n  * Transgender taxpayers given access to HMRC fast-track hotline used by MPs and royals\n\n\n\n###\n\n\n\n\n###\n\n\n\n\nHowever, HMRC has confirmed there will be a temporary soft-landing period during the 2026/27 tax year.\n\nThe tax authority said penalties for missed quarterly submissions will not begin to apply until the start of the 2027/28 tax year.\n\nDespite the grace period, accountants and software providers are encouraging workers to transition to compliant digital systems as early as possible.\n\nSeveral software companies have launched campaigns aimed at helping sole traders adapt to the new requirements.\n\nSage recently partnered with Sky Sports commentator Gary Neville as part of a campaign targeting construction workers and tradespeople.\n\n###\n\n\n\n\n###\n\n\n\n\nThe initiative includes the distribution of 10,000 free high-visibility clothing items alongside access to free accounting software.\n\nMr Neville said: “There's already enough admin pressure on sole traders trying to run a business day to day.”\n\nHe added: “A lot of people still don't realise these tax changes are coming, so this is about helping tradespeople get ready with the right support and tools before the deadline hits.”\n\nLisa Ewens, SVP product at Sage, warned workers still underestimate the scale of the changes being introduced.\n\nMs Ewens said: “Many sole traders are still unaware of how significant this change will be.”\n\n###\n\n\n\n\n**Our Standards: The GB News Editorial Charter**",
  "title": "HMRC warning as self-employed workers face £200 fines under new tax rules"
}