Clear Financial Skies

Its important to know the rules around MTD ITSA. You may not have a combined turnover of £50,000+ from sole trader and property income, however, if you did in 2024/25, you may still be required to sign up and comply with MTD ITSA for 3 years.

HMRC forces tradesman earning just £4,000 to comply with Making Tax Digital Former sole trader locked into scheme for another three years despite falling under income threshold

Could the 45p per mile allowance, be finally updated. It's been frozen since 2011.

Reeves looks at legacy 45p mileage rate with ‘close interest’ Chancellor indicates plan to review approved mileage allowance payment (AMAP) for first time since 2011 ‘ahead of a future Budget’

Companies House and HMRC are closing the joint online filing service on the 31st March 2026. This will remove the free option completely. It will remove all records held in the online filing service.So it is essential to make backups as a matter of urgency

Free HMRC company tax return filing ends on 31 March All businesses will have to use commercial software to file company tax returns from 1 April as current system ‘outdated’ but warning to save three years of records

Potential new rules for limited companies controlled by 5 or fewer individuals. FSB warn that these new rules will push up compliance costs for small businesses

Small businesses ‘dismayed’ at HMRC plan to tighten tax rules The Federation of Small Businesses has warned that the new HMRC rules risk creating more confusion for small business owners.

https://www.gov.uk/government/news/565-million-still-to-file-as-the-self-assessment-deadline-looms #:~:text=5.65%20million%20still%20to%20file%20as%20the,2026%20with%20their%20tax%20affairs%20in%20order.

5.65 million still to file as the Self Assessment deadline looms Millions of taxpayers have less than one month to file their Self Assessment tax return.