Sole traders and landlords across Omagh and the wider Fermanagh and Omagh district are being reminded of an important upcoming tax deadline.
The second quarterly update for Making Tax Digital (MTD) for Income Tax must be submitted to HM Revenue & Customs (HMRC) by Saturday 7 November 2026.
The deadline is particularly important for local self-employed individuals, small business owners and landlords who are required to use Making Tax Digital.
Who needs to submit an update?
Sole traders and landlords with qualifying income of more than £50,000 from self-employment and property are required to submit their second quarterly update.
For eligible businesses across Omagh, including independent traders, freelancers and other self-employed professionals, keeping digital financial records up to date is an important part of meeting these requirements.
What is a quarterly update?
The quarterly update covers income and expenses for the second three months of the tax year.
It is a short summary submitted directly to HMRC using recognised accounting software and should take only a few minutes to complete if digital records are up to date.
Some compatible software also includes HMRC Assist, a digital support tool that provides tailored feedback to help identify potential errors before submission.
However, individuals remain responsible for ensuring the information they provide is accurate.
Helping Omagh Businesses Plan Ahead
For small businesses and self-employed individuals across Omagh, managing cash flow and preparing for tax payments are essential parts of running a successful business.
One benefit of Making Tax Digital is that, following each quarterly update, users can view an estimate of their Income Tax bill.
This can help local businesses better understand their potential tax liabilities, budget more effectively and avoid unexpected financial pressures.
Keeping accurate digital records throughout the year can also reduce the administrative burden as important deadlines approach.
The January Tax Return Deadline Still Applies
It is important for Omagh-based sole traders and landlords to remember that quarterly updates do not replace the annual tax return.
The deadline for submitting the relevant tax return and paying any tax owed remains 31 January 2027.
Businesses should therefore ensure they understand both their quarterly reporting obligations and their annual Self Assessment responsibilities.
Don’t Leave It Until the Last Minute
With the 7 November deadline approaching, eligible sole traders and landlords throughout Omagh, Killyclogher, Gortin, Carrickmore, Dromore and surrounding rural communities are encouraged to review their financial records and ensure their quarterly update is submitted on time.
Taking action now can help avoid unnecessary last-minute pressure and allow business owners to concentrate on running and growing their businesses.
Find out more: Quarterly updates with Making Tax Digital
