Corporation Tax Planning in 2026 – What SMEs Should Review Before the New Financial Year
At this time of year, many UK businesses are entering a crucial planning window for corporation tax. While the headline corporation tax rate has remained stable following the Autumn Budget 2025, HMRC guidance issued over the past month has reinforced how effective tax planning, rather than rate changes, will define tax outcomes in the coming […]
Tax E-Newsletter – February 2026
We welcome you to the February edition of our Tax Newsletter. We hope that you find this informative. Please contact us if you wish to discuss in more detail any of the points highlighted. THERE’S STILL TIME FOR SOME YEAR END TAX PLANNING! With the tax/financial year end approaching, now is a good […]
High-Value Council Tax Surcharge
Targeted valuation exercise to be carried out in 2026 The government has announced plans to introduce a new levy, the High-Value Council Tax Surcharge (HVCTS), for owners of residential properties in England valued at £2 million or more. The surcharge is expected to come into effect in April 2028. A public consultation on the […]
Self Assessment Deadline Approaching
Are You Ready? The deadline for filing your 2024/25 Self Assessment tax return is fast approaching. You must submit your return and pay any tax due by 31 January 2026 to avoid penalties and interest. To meet the deadline, you will need to make sure you have: All income details, including any employment, pension, […]
The Customs Cliff: Preparing for the End of Low-Value Import Relief
UK importers and e-commerce platforms must urgently rethink their supply chain strategies following the 2025 Budget decision to abolish the £135 customs duty relief for low-value imports. Currently, goods imported into the UK with a value of £135 or less are exempt from customs duty—a relief that has contributed to a surge in small parcel […]
The Employment Rights Act 2025: Navigating Post-Royal Assent Compliance
The UK employment landscape has been fundamentally reshaped by the Employment Rights Act 2025, which received Royal Assent on 18 December 2025. While the Act paves the way for a two-year implementation period, January 2026 is a critical month for HR departments to engage with final consultations that will define the practicalities of day-to-one rights […]
Dividend Tax Rates Rising in April 2026
What Does It Mean for Profit Extraction? The recent Budget confirmed that dividend tax rates will increase from April 2026. The ordinary and upper rates of dividend tax will both rise by 2%. For many small and medium-sized companies, dividends are central to how owners pay themselves. With the tax rates rising, your pay […]
Capital Allowances Overhaul: Unlocking the New 40% First-Year Allowance
The start of 2026 brings a fundamental change to the UK’s capital allowances regime, offering a significant “front-loading” of tax relief for businesses that have historically been excluded from the most generous incentives. From 1 January 2026, a new permanent 40% First-Year Allowance (FYA) for main rate expenditure is now live, specifically targeting unincorporated businesses […]
Looking ahead to 2026
Reflections for business owners With 2025 coming to a close, you may already be starting to reflect on how the year unfolded in your business. Your expectations may have been exceeded in some areas. Perhaps you found a new source of revenue that grew faster than you anticipated, or you had a new customer […]
The January 31 Tax Deadline: Self-Assessment Meets the MTD “Soft Landing”
As the January 31, 2026, deadline for 2024/25 Self-Assessment approaches, UK sole traders and landlords are facing a pivotal transition. Beyond the immediate requirement to file returns and pay tax liabilities, this month marks the final straight before the mandatory introduction of Making Tax Digital (MTD) for Income Tax Self-Assessment (ITSA) in April 2026. For […]