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…
For those sole traders and directors that have self-assessment tax commitments, the second payment on account is due by 31 July 2026. It will be important to check what’s due and pay the bill online by the deadline. If there are problems with paying the full amount, there may be 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…
One Million Miss the Tax Return Filing Deadline HMRC has estimated that around a million people missed the 31 January 2026 Self Assessment tax return filing deadline. It confirmed that 11.48 million people filed their tax return on time, with most people filing online. As usual, there was a significant…
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…
HM Revenue & Customs (HMRC) reports that more than 6.36 million people have already submitted their Self Assessment tax return for the 2024/25 tax year. However, they say around 5.65 million taxpayers still need to file, with the statutory deadline of 31 January 2026 now close. While filing remains possible…
HMRC warns of rising Self Assessment scams ahead of January deadline HM Revenue & Customs (HMRC) has issued a warning about scams ahead of the 31 January Self Assessment deadline. According to HMRC, more than 4,800 Self Assessment scams have been reported to them since February 2025. In all, they…