Key changes to Income Tax administration, payments and penalties
Here's a quick take on Income Tax administration. New penalty rules, payment tweaks and MTD deferrals are coming. It's practical to plan now and avoid surprises ... Income tax administration, A dreaded task each year, But necessary for society's function With Making Tax Digital expanding, a soft landing has been announced for those joining in April 2026, meaning no penalty points for late submission of the first four quarterly updates, though the updates still need filing before a return can be submitted. There is no let-up on the end-of-year deadline, so a late 2026/27 return will still attract a penalty point, and all taxpayers get an extra 15 days before a late payment penalty is issued in their first year under the new system. This is a small but welcome nudge to improve | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Would you like to know more? |
If anything I've written in my blog post resonates with you and you'd like to discover more of my thoughts about these changes to Income Tax, then do call me on 01908 774320 and let's see how I can help you. Don't forget to stay updated with our daily social media posts on Facebook. |
Share the blog love ... | |||||||||||||||||||||||
#IncomeTax #MTD #SelfAssessment #HMRC #TaxReformsUK #UKTax |
About Roger Eddowes ... | ||
|
More blog posts for you to enjoy ... | ||
 | New tax return rules for company directors create uncertainty The new tax return rules for company directors aim to improve reporting but also cause confusion. Directors and traders must provide more detail in their self-assessment returns, yet HMRC guidance leaves gaps. Many will wait ... | |
 | Summer holiday VAT reduction for families: what it means for days out The Chancellor has announced a summer holiday VAT reduction for families, which may ease the pressure a little on meals, tickets and family days out. The catch is that the rules are narrow, the window is short, and businesses... | |
 | HMRC mileage rate increased to 55p on the 6th April 2026 On the 6th April 2026, HMRC increased the approved mileage rate to 55p per mile for the first 10,000 business miles. It's a helpful change for employees and the self-employed, and it may be worth reviewing reimbursements, pay... | |
 | HMRC AI fraud detection: how new technology will spot tax return errors AI-based fraud detection is set to help HMRC spot mistakes, suspicious patterns and missed payments more quickly. The idea is simple: artificial intelligence supports staff, while people still make the final call ...... | |
 | Understanding the new FSCS protection limit Many business owners and savers may have received messages from their bank about changes to the Financial Services Compensation Scheme (FSCS). The key update is that the protection limit for eligible deposits has increased fr... | |
 | UK economic growth as price pressures build UK economic growth has remained surprisingly resilient, but higher prices are making households and firms more cautious. The big question is whether inflation costs translate into lasting wage pressure, which would force the ... | |
 | What are the key business takeaways from the 2026 King's Speech? The 2026 King's Speech points to faster payments, smarter regulation and tougher cyber rules. It also signals a more pro-growth approach to government policy, with businesses likely to feel the impact quickly ...... | |
 | British businesses facing financial stress surge across the country British businesses facing financial stress are feeling the squeeze from higher taxes, rising costs and shaky consumer confidence. Hospitality and leisure are under the most pressure, while many firms are also grappling with c... | |
Other bloggers you may like ... | ||
 | Why do businesses staying visible online usually work systematically? Posted by Steffi Lewis on https://www.sblogit.com Businesses that stay visible online rarely achieve it by chance. While it can sometimes look as though competitors are constantly appearing on Google, ... | |
 | Networking: I Don't Do Small Talk! Posted by Jacky Sherman on https://www.jackysherman.com I wish I had a pound for every time I've heard that. It's a common reason given by people who dislike networking because they see the banality of talk ... | |
 | Why our serviced accommodation in Milton Keynes beats traditional hotel stays Posted by Emily Freeman on https://blog.shortstay-mk.co.uk Here's why our serviced accommodation in Milton Keynes is a smarter choice than a hotel. Expect more space, better Wi‑Fi, and the freedom to live on y ... | |
 | How to prepare for a job interview with less stress and more success Posted by Dave Cordle on https://blog.davecordle.co.uk If you want to prepare for a job interview without spiralling, focus on what matters: the role, your evidence, and your questions. You're not there to ... | |