The Digital Era is Officially Here The wait is over. As we enter the 2026/27 tax year, Making Tax Digital (MTD) for Income Tax Self Assessment (ITSA) has officially gone live. While the ‘digital revolution’ has been discussed for years, the final regulations were laid before Parliament on 24 March…
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…
With 6 April 2026, ushering in the start of the new tax year, there are some changes on the way that may affect how you run and plan for your business. To help you stay ahead, we have highlighted three key updates worth having on your radar. Making Tax Digital…
Welcome to the February 2026 Tax Update. In this issue we take a look at year-end tax planning, the inheritance tax U-turn, MTD, employment expenses, an input VAT ruling and dates on the Accounting Horizon. THERE’S STILL TIME FOR SOME YEAR END TAX-PLANNING! With the tax/financial year end approaching, now…
With just 10 weeks or so to go until the new tax year, many businesses are preparing for the changes that Making Tax Digital (MTD) will bring. From April, sole traders and landlords with an income of over £50,000 will need to submit quarterly updates to HMRC. It is estimated…
Happy New Year and welcome to the January 2026 Tax Update. In this issue we take a look at upcoming changes to Making Tax Digital for Income Tax, working from home expenses, benefits in kind, e-invoicing, advisory fuel rates and dates on the Accounting Horizon. MAKING TAX DIGITAL FOR INCOME…
HM Revenue and Customs (HMRC) is writing to some taxpayers to tell them what they need to do to get ready for the new Making Tax Digital rules that come into force next April. What is Making Tax Digital? Making Tax Digital for Income Tax is a new way for…
HM Revenue and Customs (HMRC) has been reminding taxpayers that there are now fewer than 100 days left to file their tax return and pay any tax due for the 2024-25 tax year. The online filing deadline applicable to the majority of taxpayers is 31 January 2026. According to HMRC…
Welcome to the November Tax Update. In this issue we take a look at planned IHT relief restrictions, MTD for Digitally Excluded Taxpayers, VAT on biscuits, SDLT, advisory fuel rates for electric cars and upcoming dates on the Accounting Horizon. PLANNED INHERITANCE TAX RELIEF RESTRICTIONS FROM APRIL 2026 In Autumn…
The government is pressing ahead with Making Tax Digital (MTD) for Income Tax – and it will affect many sole traders and landlords over the next few years. Here’s what’s changing, when it’s changing, and how to get ready. What is MTD for Income Tax? Under MTD, sole traders and…