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MTD ITSA Deregistration

Can a client deregister for MTD ITSA if their overall income falls below £10,000 after 21-22?

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Whilst the rules for mandatory registration for MTD ITSA are fairly clear, are there are rules for circumstances were a client's income subsequntly falls below £10,000?

On a simple level, say a client has two rental properties with income of £11,000 in 20-21, sold one proerty and had rental income of £5500 in 21-22 would they be able to deregister for 2024-25?

Many thanks


Replies (6)

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By SXGuy
14th Sep 2021 11:53

No idea but if its anything like Mtd for vat the answer would be no. Once you're in you're in. Unless I'm wrong.

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By lionofludesch
14th Sep 2021 12:09

I vote no.

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By ireallyshouldknowthisbut
14th Sep 2021 13:05

I think its intended as permanent, I imagine the current SA system will be removed in time and we are left with MadTax and simple SA's.

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By Hugo Fair
14th Sep 2021 15:04

It's a good question on which there has been no formal announcement ... although I've heard HMRC bods say the same as others here (i.e. once you're in there's no way out - one even called it the Hotel California method)!

On the other hand, you can de-register from SA and from PAYE (and no doubt others) when your circumstances change ... so watch this space when reality hits!

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rebecca cave
By Rebecca Cave
15th Sep 2021 11:15

Until we see the final MTD ITSA regulations we have no idea.

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paddle steamer
15th Sep 2021 11:38

Sounds like ""We are programmed to receive"

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