Latest updates from HMRC and UK tax authorities. Click any article to read it on the official HMRC or GOV.UK website.
Sole traders and landlords with income over £50,000 must keep digital records and submit quarterly updates to HMRC from April 2026. Those earning over £30,000 follow in April 2027.
All VAT-registered businesses must now use MTD-compatible software to keep digital VAT records and file returns. Paper filing is no longer accepted. Penalties apply for non-compliance.
HMRC maintains a list of approved software for MTD. Bridging software is allowed for businesses that maintain records in spreadsheets. We advise on the best low-cost options for your business.
The VAT registration threshold has been held at £90,000. Businesses approaching this limit should plan ahead — voluntary registration may still be beneficial for some traders.
The main Corporation Tax rate is 25% for profits over £250,000. Companies with profits under £50,000 continue to pay 19%. Marginal relief applies between £50,000–£250,000.
HMRC has merged the SME and RDEC R&D schemes into a single scheme from April 2024. New rate of 20% above-the-line credit applies. Contact us to assess your R&D claim eligibility.
The main employee NIC rate dropped from 10% to 8% in April 2024. Employer NIC remains at 13.8%. Directors and self-employed individuals should review their optimal salary structure.
The deadline for online Self Assessment returns for the 2023/24 tax year was 31 January 2025. If you missed it, HMRC penalties apply from day one. Contact us to resolve late filings.
HMRC has refreshed guidance on contractor verification, monthly returns, and deduction statements. Contractors must verify all subcontractors before making payments under CIS.
The National Living Wage increased to £11.44/hour for workers aged 21 and over from April 2024. Employers must ensure payroll is updated — non-compliance attracts HMRC penalties.
HMRC's employer bulletin covers RTI, P60, P11D, auto-enrolment and payroll software updates. We monitor every issue so your payroll is always compliant.