YF AccountingMTD for Income Tax for Landlords: The Complete 2026 Guide
MTD for Income Tax became mandatory on 6 April 2026 for landlords whose gross property and self employment income was over £50,000 in 2024/25: you must keep digital…
The £60,000 Child Benefit Trap: How the High Income Charge Works in 2026/27
If your adjusted net income tops £60,000 in 2026/27 and you or your partner claim Child Benefit, HMRC claws back 1% of it for every £200 you are…
Tax on Rental Income: What UK Landlords Pay in 2026/27
Landlords pay Income Tax at 20%, 40% or 45% on their rental profits in 2026/27, and the first £1,000 of rental income each year is tax free under…
Filing Your 2025/26 Tax Return Early: Six Good Reasons Not to Wait for January
You can file your 2025/26 Self Assessment tax return right now, and filing early does not mean paying early: whatever you owe is still not due until 31…
Sole Trader vs Self-Employed: What’s the Difference?
If you are a sole trader, you are self-employed. The two are not alternatives you pick between. "Self-employed" describes your status with HMRC: you work for yourself rather…
How to Register for Self Assessment: A Step-by-Step Guide for 2026
You register for Self Assessment through the free HMRC service on GOV.UK, and if you started earning untaxed income during the 2025/26 tax year, you must tell HMRC…
Do I Need to File a Tax Return? A 2025/26 Guide for the UK
You need to file a Self Assessment tax return for the 2025/26 tax year if any of these applied to you between 6 April 2025 and 5 April…
Allowable Expenses for the Self-Employed: What You Can Claim in 2026/27
If you are self-employed, you can deduct any cost that is wholly and exclusively for your business before working out the tax you owe, which directly lowers your…
Selling Online and Side Hustles: When You Need to Tell HMRC in 2026
You only need to tell HMRC about your online selling if it counts as trading and your gross income tops £1,000 in a tax year. Selling off your…
Self Assessment Payments on Account: The 31 July 2026 Deadline
Your second Self Assessment payment on account for 2025/26 is due on 31 July 2026, just over a week away. The amount is half of your 2024/25 tax…