Month: April 2026
Close companies face additional reporting requirements
Further administrative changes are on the cards for close companies, as the Government seeks to gain a better understanding of previously difficult-to-distinguish transactions. Close companies – those companies controlled by five or fewer participators or by their directors if those directors
Making Tax Digital for Income Tax is now live – What next?
For landlords and sole traders bringing in qualifying annual income over £50,000 (not including profit or dividends), Making Tax Digital (MTD) for Income Tax is now mandatory. For income to qualify, it must be earned from self-employment or property rental,
The dividend rules are changing – Disclosure rules on tax returns and new rates
From the end of the 2025/26 tax year, 5 April 2026, you must report your dividend income accurately as part of wider personal tax reforms. Directors of close companies must disclose the company name, registration number, specific dividend amounts and
Government abolishes work-from-home relief
Directors and employees claiming work-from-home tax relief will no longer be able to claim it from the start of the new tax year – 6 April 2026. Why is this relief being taken away? The Chancellor announced the removal of
Capital allowances – New rules for a new tax year
Capital allowances continue to provide an effective method for businesses to reduce their tax bills, by providing incentives for investment in eligible expenditure – typically plant and machinery. Historically, these reliefs have been subject to change and the 2026/27 tax
Company tax returns and accounts have gone digital
HMRC and Companies House have confirmed that from 1 April, all businesses must use compliant, commercial software to file their company’s tax returns. As of 31 March, the free joint online service, commonly known as the CATO portal, from these