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As we move into the 2026/27 tax year (6 April 2026 to 5 April 2027) , many key tax allowances and thresholds remain unchanged  from the previous year — continuing the freeze that has been in place for several years. Knowing these figures is essential for effective tax planning and compliance, whether you’re an individual taxpayer, self-employed, or a business owner. 1. Personal Allowances — Income Tax Personal Allowance  — £12,570: This is the amount you can earn before payin

Many business owners wait until the 31st of January deadline to deal with their tax returns. While this is allowed, it is rarely the best approach. Completing your tax return as soon as financial year finishes gives you more control, better planning opportunities, and often results in a more tax-efficient outcome. Preparing your accounts early means you know exactly how much tax is due well in advance. This allows you to: budget properly for upcoming tax payments avoid last