MTD for Income Tax – check if and when you need to use it
If you have not yet checked if and when you need to use Making Tax Digital (MTD) for Income Tax, you should do so as a matter of urgency. This is because from April 2026 the way many individuals report their tax to HMRC will change significantly. MTD for Income Tax represents a move away from the
Basis period reform – spreading rules for payment
If your business has transitional profits from basis period reform, spreading over five years may reduce the cash flow impact, but it is important to understand the deadlines.
The self-employed basis period reform has changed the way trading income is allocated to tax years. Under these reforms,
Struggling to meet tax payments this month?
With the balancing payment and first payment on account both due on 31 January 2026, it is worth checking your options early if funds are tight.
The final balancing payment for the 2024-25 tax year is due by 31 January 2026, which is also the deadline for filing your self-assessment tax return.
Saving tax using the Marriage Allowance
If one partner earns under £12,570, you could transfer part of their unused personal allowance and cut your tax bill by up to £252 a year.
The Marriage Allowance applies to married couples and civil partners where one partner does not pay Income Tax, usually because their income is below the
MTD for Income Tax – what’s required from April 2026
From April 2026, Making Tax Digital for Income Tax (MTD for IT) will become mandatory for many self-employed persons and landlords, marking a significant change in how they manage their tax affairs. The new regime is designed to modernise the tax system by requiring taxpayers to interact with HMRC
Did you file your tax return over the festive period?
HMRC’s figures show thousands of taxpayers are filing over the festive period, but leaving your return until late January risks penalties, stress and avoidable payment problems.
A new press release by HMRC has highlighted that 4,606 taxpayers took the time to file their tax return online on
Are you ready for Making Tax Digital for Income Tax?
Are you ready for Making Tax Digital for Income Tax (MTD for IT)? This new way of reporting will become mandatory in phases from April 2026. If you are self-employed or a landlord earning over £50,000, now is the time to prepare for digital record keeping, quarterly updates and the new penalty
HMRC’s Time to Pay service
With the 31 January deadline approaching, thousands of taxpayers are using HMRC’s Time to Pay service to spread the cost of their self-assessment tax bill rather than facing immediate payment pressure.
HMRC has reported that thousands of people have set up payment plans to help spread the cost of
Student jobs paying tax
Students that work may need to pay Income Tax and National Insurance. Employers are required to calculate the amount of tax they need to pay on the basis that the students would be working for the rest of the tax year.
This means that an overpayment of income tax can often occur when a student or
Property and savings income subject to new tax rates
The government announced at Budget 2025 that dividend income, property and savings income, will be subject to new tax rates. These changes will be legislated for through the Finance Bill 2025-26 and will be phased in between April 2026 and April 2027.
Dividend income
From April 2026, most dividend