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 | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
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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. |
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