The Last Traditional Self Assessment Tax Return: What You Must Know Before MTD Changes Everything 

For thousands of UK taxpayers, the 2024/25 tax year represents the final opportunity to file a traditional Self Assessment Tax Return before the arrival of Making Tax Digital (MTD) changes everything. Whether you’re a freelancer or landlord, understanding the key deadlines, common mistakes and how to prepare for the digital future is more important than ever. 

Why the 2024/25 Self Assessment Is the Last of Its Kind 

Making Tax Digital for Income Tax Self Assessment (MTD ITSA) will gradually shift all eligible taxpayers to digital record-keeping and quarterly submissions. Starting from April 2026, certain individuals will no longer be able to submit their tax returns in the traditional format. The aim is to make the system more accurate and reduce errors, but it also means that this year’s Self Assessment Tax Return is the last chance to file under the old rules. 

MTD will initially target sole traders and landlords meeting specific thresholds. Anyone with complex income streams or property investments will benefit from planning ahead to avoid pitfalls when the new digital requirements kick in. 

Key Deadlines to Remember for Your Final Traditional Self Assessment 

Even though this is your last “classic” tax return, the usual HMRC deadlines still apply: 

• Online Self Assessment Tax Return: 31 January 2026 

Failing to submit on time can lead to penalties starting at £100 for late submission, with further daily fines and interest on unpaid tax. Filing early ensures you avoid unnecessary stress and gives you a head start in transitioning to digital systems. 

Common Mistakes to Avoid Before MTD Hits 

The final traditional Self Assessment brings one last opportunity to get it right. Some common mistakes to watch out for include: 

• Overlooking foreign income or dividends: Ensure all overseas income is accurately reported. 
• Missing allowable expenses: Especially important for freelancers and landlords to maximise deductions. 
• Misreporting property income: Include all rental income and allowable costs to prevent penalties. 
• Ignoring carry-forward allowances: Use previous year’s losses or allowances where applicable. 

Getting these details right now will make your 2024/25 return seamless and reduce the chance of complications under the MTD system. 

How to Prepare for MTD While Filing Your Last Traditional Return 

Even as you file the 2024/25 return in the old format, it’s wise to prepare for MTD: 

• Organise digital records now: Use spreadsheets or accounting software to track income and expenses accurately. 
• Choose MTD-compatible software in advance: Ensure your tools meet HMRC’s requirements for future filings. 
• Seek professional advice: If you have multiple income streams, property investments or are a director of a close company, consulting a tax professional can save time and money later. 

By taking these steps now, you can make the transition to digital filing much smoother and avoid last-minute panic when MTD becomes mandatory. 

Benefits of Filing Correctly This Year 

Filing your final traditional Self Assessment properly offers several advantages: 

• Avoid penalties and interest on late or inaccurate submissions. 
• Simplify your future transition to MTD-compliant filing. 
• Reduce HMRC audit risk by keeping records accurate and complete. 

Conclusion 

The 2024/25 Self Assessment Tax Return is your last chance to file under the old system. Filing accurately and on time not only avoids penalties but also positions you for a smooth transition to Making Tax Digital. Whether you’re a freelancer, landlord, or company director, now is the time to act. 

For guidance, consider consulting a professional accountant or exploring HMRC-approved software to ensure your Self Assessment is both correct and future-ready.