{"id":2095,"date":"2026-09-08T15:40:50","date_gmt":"2026-09-08T15:40:50","guid":{"rendered":"https:\/\/capitalaccountants.co.uk\/?p=2095"},"modified":"2026-09-08T15:40:52","modified_gmt":"2026-09-08T15:40:52","slug":"starting-a-business-mid-year-what-happens-to-your-tax","status":"publish","type":"post","link":"https:\/\/capitalaccountants.co.uk\/index.php\/2026\/09\/08\/starting-a-business-mid-year-what-happens-to-your-tax\/","title":{"rendered":"Starting a Business Mid-Year: What Happens to Your Tax?"},"content":{"rendered":"\n<p class=\"wp-block-paragraph\">Starting your self-employed business halfway through the tax year does not mean you only have to deal with HMRC for half a year. The UK tax year runs from 6 April to 5 April, and your Self Assessment covers the income and expenses from the period you were actually trading.<\/p>\n\n\n\n<p class=\"wp-block-paragraph\">For example, if you start working as a sole trader in November 2026, your first tax return will include your self-employed income and allowable expenses from November 2026 to 5 April 2027.<\/p>\n\n\n\n<p class=\"wp-block-paragraph\">If your gross trading income is more than \u00a31,000 in the tax year, you generally need to register for Self Assessment. For a first return, you must tell HMRC by 5 October after the end of the tax year \u2014 so income from 2026\/27 generally needs to be registered by 5 October 2027<\/p>\n\n\n\n<p class=\"wp-block-paragraph\">You then normally have until 31 January 2028 to submit your online tax return and pay the tax due for 2026\/27.<\/p>\n\n\n\n<p class=\"wp-block-paragraph\">Keep records from your first day of trading: track your income and allowable business expenses so you can accurately calculate your taxable profit.<\/p>\n","protected":false},"excerpt":{"rendered":"<p>Starting your self-employed business halfway through the tax year does not mean you only have to deal with HMRC for half a year. The UK tax year runs from 6 April to 5 April, and your Self Assessment covers the income and expenses from the period you were actually trading. For example, if you start&hellip; <br \/> <a class=\"read-more\" href=\"https:\/\/capitalaccountants.co.uk\/index.php\/2026\/09\/08\/starting-a-business-mid-year-what-happens-to-your-tax\/\">Read more<\/a><\/p>\n","protected":false},"author":1,"featured_media":2102,"comment_status":"closed","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[1],"tags":[],"class_list":["post-2095","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-uncategorized"],"_links":{"self":[{"href":"https:\/\/capitalaccountants.co.uk\/index.php\/wp-json\/wp\/v2\/posts\/2095","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/capitalaccountants.co.uk\/index.php\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/capitalaccountants.co.uk\/index.php\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/capitalaccountants.co.uk\/index.php\/wp-json\/wp\/v2\/users\/1"}],"replies":[{"embeddable":true,"href":"https:\/\/capitalaccountants.co.uk\/index.php\/wp-json\/wp\/v2\/comments?post=2095"}],"version-history":[{"count":1,"href":"https:\/\/capitalaccountants.co.uk\/index.php\/wp-json\/wp\/v2\/posts\/2095\/revisions"}],"predecessor-version":[{"id":2112,"href":"https:\/\/capitalaccountants.co.uk\/index.php\/wp-json\/wp\/v2\/posts\/2095\/revisions\/2112"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/capitalaccountants.co.uk\/index.php\/wp-json\/wp\/v2\/media\/2102"}],"wp:attachment":[{"href":"https:\/\/capitalaccountants.co.uk\/index.php\/wp-json\/wp\/v2\/media?parent=2095"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/capitalaccountants.co.uk\/index.php\/wp-json\/wp\/v2\/categories?post=2095"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/capitalaccountants.co.uk\/index.php\/wp-json\/wp\/v2\/tags?post=2095"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}