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flag UK implements digital tax recordkeeping for high-earning self-employed, raising readiness concerns.

flag UK's "Making Tax Digital" (MTD) initiative, starting in April 2026, will require self-employed individuals and landlords earning over £50,000 annually to keep digital records and submit quarterly updates to HMRC. flag Paul Hornby, managing director of JF Hornby & Co, warns of potential chaos due to low awareness and preparedness among those affected. flag The scheme aims to modernize the tax system but has raised concerns about the readiness of sole traders to comply with the new requirements.

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