From 6 April 2026, HMRC will introduce a significant change to how UK sole traders and landlords report their income. Under Making Tax Digital for Income Tax, individuals with qualifying income above £50,000 will no longer rely solely on an annual Self Assessment return. Instead, they will be required to keep digital records and submit updates throughout the tax year. This change is part […]
Joint property ownership is a common arrangement for residential and investment properties across the UK. Whether you share ownership with a spouse, partner, friend, or business associate, it’s essential to understand how HMRC treats joint ownership especially when it comes to tax reporting and compliance or UK landlords and property owners. This guide explains the official rules and obligations under UK tax law and
Joint Property Ownership in the UK: Clear Tax Rules for Landlords and Property Owners Read More »
For UK taxpayers, Self Assessment penalties rarely occur because people refuse to comply. They usually happen because deadlines are misunderstood, registration is delayed, or filing is left too late to correct issues. For the 2024–25 tax year, HMRC requires your online Self Assessment tax return to be submitted by 31 January 2026. This date is fixed in law. HMRC systems apply penalties
Self Assessment Tax Return Deadlines: Avoid Late Filing Penalties UK Read More »
For UK taxpayers, the Self-Assessment season can feel overwhelming especially when the rules change or deadlines approach quickly. This guide breaks everything down clearly, with step-by-step guidance to help you confidently file your 2024–25 Self-Assessment tax return online before the deadline of 31 January 2026. Whether you are self-employed, a landlord, earning through a side
2024–25 Self-Assessment: HMRC Changes, Key Dates, and What UK Taxpayers Should Know Read More »
If you’re earning money outside of regular PAYE employment whether through self-employment, property rental, freelancing, or even side hustles you may need to register for Self Assessmentwith HMRC. This is HMRC’s way of tracking and collecting tax on income that isn’tautomatically taxed at source. To get started, you must register by 5 October 2025 so
Register for Self Assessment by 5 October 2025 – Avoid HMRC Penalties Read More »
