No. MTD for Income Tax applies from April 2026 if your qualifying income is above £50,000, from April 2027 above £30,000, and from April 2028 above £20,000. Below the current threshold you carry on with a normal Self Assessment return. That said, watch the trajectory rather than just today’s figure: the thresholds step down over three years, so a business at £35,000 today is outside MTD now, inside it in April 2027, and would be far better setting up calmly in advance than scrambling. Qualifying income is also gross, before expenses, which catches people out — a landlord with £32,000 of rent and a £24,000 mortgage is over the April 2027 threshold despite modest profit. Voluntary early setup is allowed and often sensible.