The second payment on account for the 2025/26 tax year is due by 31 July 2026. You will need…
Tax refunds are not issued automatically and if a client receives a letter or text message informing them that…
The High Income Child Benefit Charge (HICBC) applies to clawback child benefit where the recipient and/or their partner has…
Employers must pay workers aged 21 and older at least the National Living Wage (NLW), while workers under the…
Employers who provided taxable benefits and expenses to employees in 2025/26 which were not payrolled or included in a…
Employers must collect student loan repayments from employees by deduction from their pay where their income exceeds the threshold…
Small employer’s relief increased from 8.5% to 9% with effect from 6 April 2026. This means that eligible…
Sole traders and landlords who are within Maxing Tax Digital for Income Tax Self-Assessment (MTD for ITSA) need to…
Class 1 Class 1 National Insurance contributions are payable by employees and employers once their earnings exceed the relevant threshold.…
The £100,000 adjusted net income threshold is a harsh threshold, particularly for working parents reliant on childcare. Once adjusted net…
It used to be the case that it was more tax efficient to run a business through a limited…
Details of the capital gains tax annual exempt amount and rates for the current and previous five tax years can…
A person who has applied for child benefit may receive a letter asking them to provide evidence to show that…
HMRC’s Let Property Campaign provides an opportunity for landlords who have income from letting residential property in the UK…
HMRC has published guidance on completing the main SA100 tax return for 2024/25, 2023/24 and 2022/23, together with the returns…
Making Tax Digital for Income Tax Self Assessment (MTD for ITSA) is not mandatory for traders and landlords whose combined…
We would like to congratulate one of our team members Tom for his hard work and dedication in…
Reporting obligations arise where an employer provides taxable benefits or expenses to an employee. For benefits provided in the 2025/26…
Taxable income bands and tax rates (England, Wales, and Northern Ireland) Basic rate band £0 to £37,700 Higher rate…
The rules governing statutory sick pay (SSP) change with effect from 6 April 2026. From that date, all employees…
From 1 April 2026, the National Living Wage (NLW), which is the minimum amount that must be paid to workers…
From 6 April 2026, self-employed traders and unincorporated landlords with combined trading and property income of £50,000 or more in…
The 2025/26 tax year comes to an end on 5 April 2026 and the 2026/27 tax year begins on 6…
Where a business is operated through a personal or family company, profits must be extracted it they are to be…
HMRC are encouraging young adults to check whether they have a matured Child Trust Fund. This can be done…
The Winter Fuel Payment is only available to individuals who have reached state pension age and who have total income…
From 6 April 2026, the state pension age increases to 67. The increase is phased in over the course of…
Under payrolling, employers account for the tax due on taxable benefits in kind through the payroll. Currently, payrolling is optional…
Making personal contributions is tax efficient. There is no longer a cap on lifetime contributions, and clients whose pension pot…
Year-end Review The 2025/26 tax year ends on 5 April 2026. As this date approaches, it is prudent to review…
An employer may be able to claim a refund if they have overpaid PAYE for the current tax year…
Where a taxpayer has overpaid tax, they may be able to obtain a refund by making an overpayment claim. HMRC…
A taxpayer who would otherwise be within MTD for IT’S A may be able to apply for an exemption if…
Despite the associated tax charge, company cars remain a popular benefit. In recent years, electric and low emission cars have…
The date from which traders and unincorporated landlords need to comply with Making Tax Digital for Income Tax Self Assessment…
The pensions annual allowance remains at £60,000 for 2026/27. Where adjusted net income exceeds £260,000 and threshold income exceeds…
Individuals can opt to pay voluntary Class 3 National Insurance contributions to fill gaps in their contributions record. For 2026/27,…
Self-employed earners pay Class 4 National Insurance contributions to the extent that their earnings exceed the lower profits limit. Contributions…
Details of the tax rates and thresholds applying for the 2026/27 tax year have been published. The basic rate…
In recent years landlords have been hit hard by tax changes, and the November 2025 Budget dealt a further…
At the moment, interest on savings is taxed at the standard income tax rates. Basic rate taxpayers receive a…
The changes to agricultural and business property relief announced at the time of the 2024 Autumn Budget come into…
Business Asset Disposal Relief (BADR) is a relief that charges gains on the disposal of a business, business assets…
Dividends have their own tax rates. Dividends, which are treated as the top slice of income, are taxed at…
The 2025/26 tax year comes to an end on 5 April 2026. Ahead of this date it is sensible…
If you are a self employed trader or landlord whose combined gross business and trading income in 2024/25 is…
Tax due under Self Assessment for the 2024/25 tax year must be paid in full by 31 January 2026.…
Businesses looking to obtain relief for capital expenditure on qualifying plant and machinery have a number of options open…
A new duty, vaping products duty, is to be introduced on vaping products with effect from 1 October 2026. It…
Under a new vaping duty stamps scheme, from 1 October 2026, all vaping products manufactured or imported into the UK…
Clients born before 22 September 1959 may receive a Winter Fuel Payment of between £100 and £300 to help with…
Clients who receive bank and building society interest and who do not need to submit a Self Assessment tax return…
Landlords running unincorporated property businesses have once again been hit by tax changes. This time, the assault comes in the…
Under the company car tax rules, the amount charged to tax depends predominantly on the list price of the car…
A new legislative exemption will apply from 6 April 2026 where an employer reimburses an employee for the cost of…
Some clients may be exempt from MTD for ITSA because they are digitally excluded. This will be the case if…
From 6 April 2026, employees will not be able to claim the tax relief at the rate of £6 per…
The 31 January payment deadline comes at a time when clients are faxing Christmas credit card bills amid the cost…
The normal Self Assessment filing date for online returns is 31 January after the end of the tax year. This…
The rate at which dividends falling in the basic or higher rate bands are taxed will rise by two percentage…
An employer may wish to give a seasonal gift to an employee. Typical seasonal offerings are Christmas Hampers, wine or…
From 6 April 2027, tax on savings income will increase by two percentage points. Currently taxable savings interest is taxed…
Many businesses organise a Christmas event for their employees. This may take many forms, ranging from a traditional party to…
The main rates of income tax are unchanged for 2026/27. The basic rate remains at 20%, the higher rate at…
The freeze on the personal allowance and the income tax thresholds was extended for a further three years until 6…
Chancellor Rachel Reeves delivered her second Budget on Wednesday 26 November 2025, introducing £26.1 billion in annual tax rises by…
There is a new legal requirement for a company's people with significant control (PSC's) to verify their identity for Companies…
Making Tax Digital for Income Tax Self Assessment (MTD for ITSA) is being introduced progressively from 6 April 2026. If…
From 18 November 2025 Companies House identity verification will be required for new directors and persons with significant control (PSCs),…
A business that is not required to register for VAT but which opts to do so voluntarily can choose the…
Clients who have income from property will need to report it on their Self Assessment tax return unless it is…
Under Making Tax Digital for Income Tax Self Assessment (MTD for ITSA), taxpayers will need to make a final declaration…
Clients not currently within Self Assessment who had a new source of income in 2024/25, such as income from self-employment…
Taxpayers with Simple Assessment debts can now set up a Time to Pay arrangement to enable them to pay what…
Employers with a PAYE Settlement Agreement (PSA) in place for 2025/25 will need to calculate what they owe and pay…
As the start date for Making Tax Digital for Income Tax Self Assessment (MTD for ITSA) draws ever closer, it…
An employee car ownership scheme (ECOS) is a set of arrangements whereby employees acquire cars from a specified or single…
The tax regime for furnished holiday lettings came to an end on 5 April 2025. For 2025/26 and later tax…
Jointly owned holiday lets The special tax regime for furnished holiday lettings (FHLs) came to an end on 5 April…
CGT adjustment for 2024/25 The capital gains tax rates were increased with effect from 30 October 2024. From that date,…
The start date for mandatory payrolling has been delayed by one year. It will now come into effect from 6…
If you run your business through a company, you will need to extract your profits if you want to use…
The tax year basis applies from 2024/25 onwards. This means that if you run an unincorporated business, you will be…
Start dates Making Tax Digital for Income Tax Self Assessment (MTD for ITSA) applies from 6 April 2026 to unincorporated…
The second payment on account for the 2024/25 tax year is due by 31 July 2025. You will need to…
Most taxable benefits are liable to Class 1A National Insurance. This is an employer only charge. The Class 1A rate…
Sarah Bradford explains how expenses and benefits should be reported to HMRC and look ahead to mandatory payrolling Employer…
July 2026 1 July Corporation tax due for companies with a 30 September 2025 year end. 5 July…
Sarah Bradford explores tax-efficient options for taking profits out of a personal or family company. The 2025/26 tax year starts…