How Married Couples and Civil Partners can reduce their Household Tax Bill in 2026/27 For married couples and civil partners, effective tax planning can significantly reduce a household’s overall tax liability. While spouses are taxed as separate individuals under the UK tax system, there are several opportunities to make better…
With the rollout of Making Tax Digital (MTD) for Income Tax drawing nearer, HMRC has confirmed that it will begin proactively signing up taxpayers it believes fall within the scope of the new regime from September 2026. Recent reports suggest that while around 864,000 taxpayers are expected to be affected…
Welcome to the October 2026 Tax Update. In this issue, we look at Autumn Budget preparations, HMRC’s increasing use of data analytics, upcoming Making Tax Digital obligations, changes affecting National Minimum Wage rates, and key dates on the accounting horizon. Remember, Remember the 5th of October! Deadline for informing HMRC…
Don’t Miss HMRC’s Little-Known 5 October Tax Deadline Many taxpayers know that 31 January is the deadline for filing an online Self-Assessment tax return. Fewer people know about another important date: 5 October. If you need to complete a Self-Assessment return but are not already registered, HMRC expects you to…
Do you need to pay tax on your side hustle? Those who have turned their hobby into a side hustle are being reminded by HMRC that their income from these activities may be taxable. With wedding season in full swing, some may be making some extra income from selling wedding…
Could the EU’s New Entry-Exit System Trigger a UK Tax Residency Investigation? The European Union’s new Entry-Exit System (EES) is designed to strengthen border security and improve the monitoring of travellers entering and leaving the Schengen Area. However, for UK holiday home owners, remote workers, expatriates and frequent travellers, the…
Welcome to the June 2026 Tax Update. In this issue we take a look at tax-free mileage rates, temporary reduced rate of VAT, dividends, a Research & Development update, employment rules and upcoming dates on the Accounting Horizon. GREAT BRITISH SUMMER SAVINGS On 21 May 2026, the Chancellor, Rachel Reeves…
HM Revenue and Customs (HMRC) have reported that 298,905 people filed their Self-Assessment tax return in the first week of the tax year, with a record total of 737,891 returns being filed during the month of April 2026. HMRC are highlighting several benefits to filing early, including: Getting a refund…
Welcome to the April 2026 Tax Update and the start of the new tax year. In this issue we take a look at MTD for Income Tax going live, tax changes for 2026-27, VAT on public electric vehicle charging and dates on the Accounting Horizon. MAKING TAX DIGITAL FOR INCOME…
Extracting Dividends from your company ahead of the April 2026 Tax Rise. If you are a shareholder, from 6 April 2026, the tax you pay on dividends is increasing, as follows: Basic rate moves from 8.75% to 10.75% Higher rate moves from 33.75% to 35.75% Additional rate remains at 39.35%…