by | Feb 19, 2026 | Income Tax
There are several reasons why you might need to file a self-assessment tax return. This could apply if you are self-employed, a company director, have an annual income over £150,000, or receive income from savings, investments or property. You must file a...
by | Feb 12, 2026 | Income Tax
HMRC has confirmed that more than 11.48 million people submitted their 2024-25 self-assessment tax returns by the 31 January deadline. This included 475,722 taxpayers who left their filing until the final day and almost 27,456 that filed in the last hour (between...
by | Feb 5, 2026 | Income Tax
If you are self-employed, it is important to understand which car and travel costs can be claimed. You can claim allowable business expenses for car, van, or travel costs, which reduce your taxable profit. Typical allowable costs include: Vehicle insurance Repairs and...
by | Jan 29, 2026 | Income Tax
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...
by | Jan 22, 2026 | Income Tax
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...
by | Jan 22, 2026 | Income Tax
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...
