Guides
Plain-English guides to UK tax and accounting, grouped by topic: self assessment, Making Tax Digital, VAT, limited companies, employers, landlords and working with an accountant. Every figure links to its official source.
Self assessment and income tax
- Do I need to do a self assessment tax returnWhen HMRC expects a self assessment tax return, from self-employment over £1,000 to capital gains and child benefit, and how to check for sure.
- How to register for self assessmentHow to register for self assessment as a sole trader, a partner or with other income, which form to use, when your UTR arrives and the 5 October deadline.
- Self assessment deadlines for 2026 to 2027Every self assessment date for the 2026 to 2027 tax year, from registering by 5 October 2027 to filing and paying by 31 January 2028, plus dates due now.
- Self assessment penalties and interestWhat HMRC charges when a tax return or payment is late: the £100 penalty, daily penalties, 5% charges, interest at 7.75% and when you can appeal.
- Payments on account explainedPayments on account are two advance payments, each half of last year's tax, due 31 January and 31 July. How they work and how to reduce them.
- How to pay your self assessment tax billWays to pay a self assessment bill, how long each takes to reach HMRC, the reference to use, paying through your tax code and what to do if you cannot pay.
- What records to keep for your tax returnThe records HMRC expects behind a self assessment return, how long to keep them, what format is allowed and what to do if records are lost.
- Income tax rates and bands for 2026 to 2027Income tax rates for 2026 to 2027: the £12,570 Personal Allowance, the 20%, 40% and 45% bands, Scottish rates, and dividend and savings rates.
Self-employed and side income
- Paying tax on a side hustleHow tax works on a side hustle alongside a job: when it counts as trading, the £1,000 allowance, what online platforms tell HMRC and how the tax is paid.
- The £1,000 trading allowanceHow the £1,000 trading allowance works, who can use it, when to claim expenses instead, and the announced rise to £3,000 from April 2027.
- Allowable expenses for sole tradersWhich business costs a sole trader can deduct, what HMRC does not allow, how to split mixed-use costs and when the trading allowance is simpler.
- Simplified expenses for the self-employedSimplified expenses for 2026 to 2027: the flat mileage rates, including 55p a mile for cars, the working from home rates and living at business premises.
- National Insurance for the self-employedSelf-employed National Insurance for 2026 to 2027: Class 4 at 6% and 2%, when Class 2 is treated as paid, voluntary contributions and how you pay.
Making Tax Digital
- Making Tax Digital for Income Tax: a checklistA step by step checklist for Making Tax Digital for Income Tax: checking if you are in, signing up, software, digital records and the 2026 to 2027 dates.
- How qualifying income works for Making Tax DigitalWhat counts as qualifying income for Making Tax Digital for Income Tax: gross trading and rental income, joint property, partnerships and worked examples.
- Choosing software for Making Tax DigitalHow to choose software for Making Tax Digital for Income Tax: what it must do, bridging software and spreadsheets, free products and questions to ask.
- Who is exempt from Making Tax Digital for Income TaxWho is exempt from Making Tax Digital for Income Tax: automatic exemptions, temporary ones, digital exclusion, how to apply and what HMRC will not accept.
- Making Tax Digital for landlordsMaking Tax Digital for landlords: why gross rent counts, joint ownership, simpler records for joint lets, letting agents and foreign property.
VAT
- The VAT registration thresholdThe VAT registration threshold is £90,000 of taxable turnover. How the rolling 12 month and 30 day tests work, what counts and your effective date.
- How to register for VATHow to register for VAT step by step: online or by post, using an agent, what HMRC sends you, invoicing while you wait and your first return.
- The VAT flat rate schemeHow the VAT Flat Rate Scheme works: the percentage for your business type, the limited cost business rate of 16.5%, who can join and when you must leave.
- VAT accounting schemes comparedVAT accounting schemes compared: cash accounting, annual accounting, the flat rate scheme, retail and margin schemes, with thresholds and which combine.
- VAT return deadlines and penaltiesVAT return and payment deadlines, how late submission penalty points build up and expire, late payment penalties at day 15 and day 30, and interest.
Limited companies and directors
- Sole trader or limited companyHow sole traders and limited companies differ on liability, tax and paperwork in 2026/27, and the factors that decide which structure fits you.
- Paying yourself from a limited companyHow directors take money out of a limited company through salary, dividends and loans in 2026/27, and the factors that shape the right mix for you.
- How dividend tax worksHow dividends are taxed in 2026/27: the £500 allowance, the 10.75%, 35.75% and 39.35% rates, a worked example and how to tell HMRC.
- Corporation tax explainedWhat corporation tax is charged on, the 19% and 25% rates and marginal relief for 2026, a worked example, and when companies file and pay.
- Limited company filing deadlinesThe yearly deadlines for a private limited company: Companies House accounts, confirmation statement, corporation tax, payroll, VAT and penalties.
- Director's loan accounts explainedWhat a director's loan account is, the 35.75% charge on loans made from April 2026 not repaid in 9 months, the £10,000 rule and lending to your company.
- Companies House identity verificationWho must verify their identity with Companies House, when directors and PSCs need to do it, how the personal code works and what happens if you do not.
- How to close a limited companyThe ways to close a limited company: voluntary strike off, members' and creditors' voluntary liquidation, or going dormant, with the steps and fees.
Employers
- Taking on your first employeeThe legal, tax and payroll steps for taking on your first employee in 2026/27: pay, right to work, insurance, PAYE, contracts and pensions.
- Employer National Insurance and the Employment AllowanceHow employer National Insurance works in 2026/27, the 15% rate above £5,000, a worked example, and who can claim the £10,500 Employment Allowance.
Landlords and property
- How rental income is taxedHow UK rental income is taxed in 2026 to 2027: what counts as rent, turning it into taxable profit, which rates apply, and when to report it to HMRC.
- Mortgage interest tax relief for landlordsHow the restriction on mortgage interest relief works for individual landlords, how the 20% tax reduction is worked out and who it does not affect.
- The £1,000 property allowanceThe £1,000 property allowance explained: who can use it, when you need to tell HMRC, when it is not allowed and how it compares with rent a room relief.
- Capital gains tax when you sell a propertyWhen capital gains tax is due on selling a UK property, how the gain is worked out, the 18% and 24% rates for 2026 to 2027 and the 60-day deadline.
Working with an accountant
- What does an accountant doWhat an accountant does for individuals and small businesses: accounts, tax returns, acting as your HMRC agent, advice, and work only some can do.
- How to choose an accountantHow to choose an accountant: work out what you need, check money laundering supervision and memberships, and compare written quotes like for like.
- Questions to ask an accountant before you sign upQuestions to ask an accountant before you agree: scope and fees, supervision and membership, software, HMRC and what happens if things go wrong.
- How to switch accountantHow to switch accountant step by step: professional clearance, getting your records back, authorising the new firm with HMRC and choosing when.
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