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Essential UK Tax & Compliance Briefing: May 2026

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  May 2026 Compliance Update May is a key compliance month for UK businesses and employers, with multiple HMRC deadlines, ongoing Companies House obligations, and the first full payroll month under the 2026/27 tax year rules. The emphasis this month is on maintaining accurate records, correct payroll processing, and meeting statutory deadlines. Making Tax Digital (MTD) for Income Tax MTD for Income Tax applies from 6 April 2026 to self‑employed individuals and landlords with qualifying income over £50,000. No MTD quarterly submission is due in May. The first mandatory quarterly update (covering 6 April to 5 July 2026) is due by 5 August 2026. From 6 April 2026, taxpayers must: Keep digital records of income and allowable expenses Record transactions within MTD‑compatible software as they occur If April transactions have not yet been properly categorised in compliant software, records are already incomplete. HMRC – Key May Deadlines VAT 7 May 2026 VAT return submission and payment f...
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Essential UK Tax & Compliance Briefing: April 2026

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  Welcome to the April 2026 Edition April marks the start of the 2026/27 tax year, and several significant legislative changes now take effect. These adjustments increase compliance requirements, affect business costs, and introduce higher tax rates for investment and business income. Making Tax Digital (MTD) for Income Tax – Now Live From 6 April 2026 , MTD for Income Tax Self‑Assessment now applies to anyone who is self‑employed or receiving rental income with combined qualifying income exceeding £50,000. You must now: Keep digital records of income and allowable expenses. Submit quarterly reports through MTD‑compatible software. File one final end‑of‑year submission. HMRC has confirmed a "soft landing" for the first year; no late submission penalty points will be issued for the first four quarterly updates, though the requirement to keep digital records remains legally binding from day one. From April 2027 , the regime expands to include t...
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Location: Manchester, UK
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