Making Tax Digital for Income Tax: What Changes in 2027 and Are You Affected? 💻📊 Making Tax Digital for Income Tax has already started for some people. And the next wave is coming sooner than you might think. 🚨 If you’re a sole trader or landlord, here’s what you need to know, and why the…
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Self Assessment Deadline 2027: Why You Should Start Now, Not on 30 January 📅💷 t’s 20 October. The Self Assessment deadline feels like it’s miles away. 😅 It isn’t. The online filing and payment deadline for the 2025/26 tax year is 31 January 2027, which is just over 100 days from today. And because 31…
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Taking Money Out of Your Limited Company in 2026: Salary, Dividends, Loans and Pensions 💷🏢 Your company has £50,000 sitting in the bank. Can you just transfer it to yourself? Unfortunately, no. 😅 A limited company is legally separate from its owners, so money in the company bank account belongs to the company, not automatically…
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Sole Trader vs Limited Company in 2026: Which Is More Tax Efficient? 💷🏢 “Should I be a sole trader or a limited company?” It’s probably one of the most common questions we’re asked by business owners. And, unfortunately, the answer isn’t quite as simple as: “Limited companies pay less tax.” 😅 There was a time…
DetailsDo You Need to Register for Self Assessment? The 5 October Deadline Explained 📅💷 5 October 2026 is an important date for anyone who became self-employed, started receiving rental income or otherwise found themselves with income that may need to be reported to HMRC during the 2025/26 tax year. If you need to complete a…
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HMRC Is Automatically Signing Taxpayers Up for Making Tax Digital – Are You Affected? 💻📊 Making Tax Digital for Income Tax is now officially here and if you were supposed to join from April 2026 but haven’t yet signed up, HMRC may now do it for you. From September 2026, HMRC is beginning to automatically…
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Why Your July Tax Payment Shouldn’t Come as a Surprise For many taxpayers, July brings an unwelcome reminder from HMRC. The second Self Assessment payment on account is usually due by 31 July, and for sole traders, landlords and company directors, it can create real pressure on cash flow if it has not been planned…
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Making Tax Digital for Income Tax: What Landlords and Sole Traders Need to Know Making Tax Digital for Income Tax is one of the biggest changes to the way sole traders and landlords report their income to HMRC. For many people, Self Assessment has traditionally meant dealing with the figures once a year, often several…
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Why We Ask So Many Questions Before Giving Tax Advice When you ask a tax question, you usually want a clear answer. That is completely understandable. If you are selling a property, taking money from your company, planning for retirement, buying another business or thinking about changing your structure, you want to know where you…
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The Biggest Mistakes We Saw in the 2025/26 Tax Year Now that the tax year has come to an end, there’s usually a bit of breathing space. For us, it’s also a natural point to reflect. Not on anything dramatic, but on the patterns we see every year. The small things that, when left unchecked,…
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