HMRC is beginning to issue tax calculation letters (P800) and Simple Assessment notices (PA302) to collect any tax owed on bank and building society interest earned during the 2025-26 tax year. Some taxpayers may already have received a Simple Assessment for the 2025-26 tax year that did not include their savings interest. If HMRC...
More...From 6 April 2027, employers must payroll taxable benefits in kind and expenses in real time, including company cars, car fuel, vans, van fuel, and employer-provided medical benefits. Most other benefits will become subject to mandatory payrolling from April 2028, while employment-related loans and accommodation will remain...
More...HMRC has introduced an automated payment process to speed up refunds for people who may have overpaid National Insurance contributions. The process has been in use since early summer, according to HMRC’s latest Agent Update. HMRC will write to people it identifies as potentially having overpaid, providing details of their past employment...
More...HMRC offers small and medium-sized enterprises (SMEs) two voluntary advance assurance services to help provide greater certainty about Research and Development (R&D) tax relief claims before they are submitted. You can choose either a new targeted advance assurance service (also known as the advance assurance pilot) or the existing...
More...New rules for Plastic Packaging Tax (PPT) will take effect from 1 April 2027, changing how businesses account for chemically recycled plastic and removing pre-consumer plastic waste as an eligible source of recycled content. Under the new rules, manufacturers and importers will be able to use a mass balance approach to attribute...
More...The UK-India Double Contributions Convention (DCC), which came into force on 15 July 2026 alongside the countries’ trade agreement, aims to prevent employees and employers paying social security contributions in both countries. It reciprocally extends the exemption period for eligible employees temporarily working abroad from 52 weeks to...
More...A recent tribunal decision shows that calling an arrangement a "TUPE transfer" does not make it one. For accounting firms and their HR teams, the case reminds them that employment status turns on legal realities and not administrative assumptions. A specialist engineering and inspection business with around two dozen staff had...
More...Businesses that engage freelancers, contractors and other self-employed workers may need to review their arrangements following a new Government consultation aimed at tackling bogus self-employment and improving protections for people who are genuinely self-employed. Bogus self-employment can arise where an individual is described as...
More...Most businesses now depend on several software systems to manage everyday activities such as email, accounting, document preparation, customer records and internal communication, and as these systems become increasingly integrated it can become difficult and expensive to move from one supplier to another. The Competition and Markets...
More...Company directors who complete a self-assessment tax return should be aware of new mandatory reporting requirements that came into effect from the 2025-26 tax year. The changes mainly affect directors of close companies, including many owner-managed and family businesses. Previously, directors could voluntarily identify themselves as...
More...Taxpayers who need to pay the High Income Child Benefit Charge (HICBC) for 2025-26 may be able to pay it through PAYE rather than completing a self-assessment tax return solely to report the charge. The HICBC applies where an individual or their partner receives Child Benefit and the individual’s adjusted net income exceeds £60,000. The...
More...You may have to pay Income Tax on your pension if your total annual taxable income exceeds your Personal Allowance. This applies whether you receive the State Pension, a workplace pension or a personal pension. Your total taxable income can include the basic or new State Pension, Additional State Pension, private pension payments,...
More...HMRC has revealed that it had £42.8 billion in outstanding tax debt at the end of March 2025, equivalent to 5% of total tax receipts. The figures appear in its corporate report, The HMRC tax debt strategy - update. The report also highlighted progress in recovering unpaid tax, with HMRC resolving £48.7 billion of tax debt in the first...
More...Cryptoassets can create unexpected tax liabilities. HMRC’s guidance highlights several areas where mistake can be made. Assuming crypto-to-crypto exchanges are tax-free. Exchanging one type of cryptoasset for another can count as a disposal for Capital Gains Tax (CGT) purposes. Forgetting that spending crypto can trigger CGT. Using...
More...Alternative providers of higher and further education may be able to claim refunds of VAT following a recent Court of Appeal ruling, although the position remains subject to further legal proceedings. HMRC recently published a brief explaining the implications of the Court of Appeal’s decision. The court ruled in favour of the college in...
More...Late payment of invoices remains one of the most persistent problems facing UK small businesses, and recent research suggests the situation is becoming increasingly difficult. 60% of UK small and medium-sized businesses report that customers are taking longer to settle invoices than they were a year ago. The average amount owed in...
More...Business confidence across the UK is showing signs of improvement, although many smaller businesses remain reluctant to commit money to new investment. The latest British Chambers of Commerce Quarterly Economic Survey, published in October 2026, found that 47% of businesses expect their turnover to increase over the next 12 months....
More...A new excise duty on vaping products came into force on 1 October 2026. Vaping Products Duty (VPD) applies to vaping liquids manufactured in, or imported into, the UK, whether or not they contain nicotine. The duty is charged at £2.20 per 10ml of vaping liquid. It is paid by manufacturers, importers and certain wholesalers, although...
More...HMRC is writing to individuals it believes may have failed to declare consultancy income from private healthcare providers on their self-assessment tax returns. The letters follow information received from private healthcare providers and form part of an HMRC campaign specifically targeting the medical sector. The letter asks recipients...
More...The tax treatment of predevelopment costs has been the subject of a recent Supreme Court decision. This is likely to mean that capital allowances will be restricted for some predevelopment costs. The government has consulted on the impact of the decision and whether the current rules could affect investment decisions. Predevelopment...
More...Anyone selling a UK residential property usually needs to report the disposal to HMRC within 60 days of completion. The requirement applies even where the individual is not normally required to report Capital Gains Tax (CGT) through a tax return. Any CGT due must normally be paid within the same 60-day period. Payment can be made online...
More...Businesses using the Trader Support Service (TSS) to move goods between Great Britain and Northern Ireland need to prepare for a new platform launching soon. From 20 October 2026, all goods movements must be submitted using the new TSS platform. Businesses are being asked to pre-enrol before the switchover. From 1 October, existing TSS...
More...HMRC’s latest Corporation Tax statistics show that receipts from corporate taxes passed £100 billion for the first time in 2025-26. The main statistics are as follows: Total receipts from all corporate taxes were £100.4 billion in 2025-26, an increase of £3.5 billion (4%) compared with the previous year. The total includes Corporation...
More...November 2026: 1 November 2026 - Due date for Corporation Tax payable by companies with an accounting period ended 31 January 2026, unless the company is required to pay Corporation Tax by instalments. 7 November 2026 - Deadline for the second quarterly update under Making Tax Digital for Income Tax for the 2026-27 tax year. This applies...
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