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MTD for Income Tax: The Next Deadline Is 7 November
Making Tax Digital for Income Tax became mandatory from 6 April 2026 for sole traders and landlords with qualifying income above £50,000. Those affected by MTD must keep digital records[…]
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What Does a New Self-Employed Person Need?
Starting your self-employed journey in the UK comes with several important responsibilities. One of the first steps is registering with HMRC to receive your Unique Taxpayer Reference, which is required[…]
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Does MTD Mean You’ll Pay Tax Every Quarter?
One of the biggest misconceptions about Making Tax Digital is that quarterly updates mean you’ll have to pay Income Tax every three months. In fact, quarterly submissions are for reporting[…]
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What Happens If You Miss Your First MTD Quarterly Update?
From April 2026, many self-employed individuals and landlords are required to submit quarterly updates to HMRC under Making Tax Digital for Income Tax. Missing your first submission does not mean[…]
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HMRC penalties: You stopped being Self-Employed but HMRC wasn’t told
Many people believe that once they stop working as self-employed, they no longer need to file a Self Assessment tax return. However, if HMRC still expects a return from you,[…]
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What Happens If You Don’t Submit Your Tax Return?
If you are required to file a Self Assessment tax return but miss the deadline, HMRC may charge penalties even if you have no tax to pay. The initial late[…]
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What Should You Do If Your Company Is Facing Financial Difficulties?
Financial difficulties don’t always mean that closing your company is the only option. In many cases, there are legal ways to improve the situation or reduce the impact if action[…]
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Can closing your comanies help you to avoid its creditors?
Dealing with large debts, can leave any business owner searching for a quick solution. One of the most common misconceptions is that closing a company will automatically remove legal responsibilities.[…]
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