True Profit Bookkeeping & Accountancy

Good news for business owners and employees who use their own vehicle for work journeys.

From 6th April 2026, the approved mileage rate for cars and vans will increase to 55p per mile for the first 10,000 business miles claimed each tax year.

We’ve had a lot of calls this week from people worried about Making Tax Digital (MTD), which is due to start from April 2026 — so we wanted to clear a few things up

The first phase (from 6th April 2026) will only apply to those with self-employment or property turnover over £50,000.

So, what does this actually mean?

In addition to your annual tax return, you’ll be required to submit quarterly updates using MTD-compatible software — that’s 4 submissions , plus the end of year tax return.

We know this can sound overwhelming, but it doesn’t have to be.

If you need help getting set up or managing your submissions, feel free to get in touch or book a call using the Calendly link in the comments. We can take the stress out of the process — you’ll simply need to provide your paperwork each quarter, and we’ll handle the rest.

Don’t panic — just get prepared

National Minimum Wage Rates Increasing from April

The UK government has confirmed new National Minimum Wage and National Living Wage rates effective from April.

Here’s a summary of the updated hourly rates:

National Living Wage (21 and over): £12.71 (increase of 50p | 4.1%)
18–20 Year Old Rate: £10.85 (increase of 85p | 8.5%)
16–17 Year Old Rate: £8.00 (increase of 45p | 6.0%)
Apprentice Rate: £8.00 (increase of 45p | 6.0%)

These changes will apply to pay reference periods starting on or after the implementation date in April.

Employers should ensure that all eligible workers are paid at least the new statutory minimum rates.

Are you making the most of your Marriage Allowance?

If you’re married or in a civil partnership, you could be missing out on tax savings of up to £1,260 by not claiming Marriage Allowance.

Marriage Allowance allows one partner to transfer part of their unused Personal Allowance to the other, helping to reduce the overall tax bill for your household.

You may be eligible if:
✔ One partner earns below the Personal Allowance
✔ The other partner is a basic rate taxpayer
✔ You’re married or in a civil partnership

Many couples don’t realise they qualify, and you may even be able to backdate claims for previous tax years.

The countdown is on! From 6th April, Making Tax Digital (MTD) will apply to self-employed individuals and landlords with:

• £50,000+ turnover in the first year
• Reducing to £30,000+ from April 2027

This means digital record keeping and quarterly submissions using compatible software will be required.

If you’re not sure:
• Whether MTD applies to you
• How your turnover is calculated
• What software you need
• How to get set up properly

Now is the time to prepare — not the week before the deadline.

At True Profit Ltd, we’re helping clients get fully prepared, stress-free and compliant ahead of April.

Just a quick reminder if you haven't paid your tax bill for 24/25 its due by the 31/01/26.