by | Nov 12, 2026 | Income Tax
HMRC has published a new consultation on proposals to change how property income information is reported to it by letting agents and tenancy deposit scheme providers. The aim is to improve the quality, consistency and timeliness of data, helping HMRC identify...
by | Oct 29, 2026 | Income Tax
HMRC is in the process of writing to some individuals defined as a ‘Person of significant control’ (PSC) to raise awareness of potential tax liabilities and to help ensure their self-assessment tax returns are completed correctly for 2025-26. The letters...
by | Oct 29, 2026 | Income Tax
The Autumn Budget 2026 saw no changes to the Income Tax thresholds. From next April, the personal allowance will remain at £12,570, while the basic rate limit remains £37,700 and the higher rate threshold remains £50,270 in England, Wales and...
by | Oct 29, 2026 | Income Tax
It was announced as part of the Autumn Budget measures that the Trading Allowance will increase from £1,000 to £3,000 from 6 April 2027. The increase will help people earning small amounts from trading or other miscellaneous activities, while reducing the...
by | Oct 22, 2026 | Income Tax
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...
by | Oct 15, 2026 | Income Tax
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...
