HMRC has launched an improved online service to make it easier for individuals to register for self-assessment. Anyone who needs to submit a tax return for the first time for the 2025-26 tax year should notify HMRC by 5 October 2026 to avoid a potential penalty. The new service is available through a Personal Tax […]
Monthly Archives: October 2026
1 October 2026 – Corporation Tax payment is due for companies with an accounting period ending 31 December 2025, unless the company is required to make quarterly instalment payments. 5 October 2026 – Deadline for notifying HMRC of a new liability to Income Tax or Capital Gains Tax for the 2025-26 tax year. This may […]
Some taxpayers have already started to receive Simple Assessment letters from HMRC for the 2025-26 tax year, with a further tranche due to be sent between October and December 2026. Simple Assessment is used where HMRC cannot collect income tax through PAYE or self-assessment. The PA302 letter sets out HMRC’s calculation of the tax due, […]
UK employers with employees who normally work overseas may have PAYE and National Insurance obligations when those employees come to the UK to carry out their duties in the UK on a short-term basis. Employers should consider the position whenever an overseas employee visits the UK to work. The fact that the employee remains employed […]
Making a trading loss whilst not ideal can sometimes generate a tax refund. If you are a self-employed individual or a member of a trading partnerships, a trading loss can potentially be set against other income or capital gains. This can reduce the amount of tax payable and, where tax has already been paid, may […]