NI Class 1 vs Class 4 — Self-Employed Contributions in 2026 National Insurance contributions for the self-employed are split into two classes. The 2024 reforms removed Class 2 for most. In 2026 the calculation is simpler — but the link to State Pension entitlement deserves understanding. The Current 2026 Structure For employees (Class 1): 8% …
Self-Assessment 2026 — Avoid £100 + 5% Penalties If you’re self-employed, a landlord, or have income outside PAYE, you must file a Self Assessment tax return. Missing the deadline costs £100 instantly, with escalating penalties after that. Here’s the 2026 timeline and the most-overlooked penalty traps. The Key Deadlines For the 2025–26 tax year (April …
Capital Gains Tax UK 2026 — £3,000 Allowance and the Hard Lessons The UK Capital Gains Tax annual exempt amount has been cut hard. From £12,300 in 2022–23 to £3,000 in 2024–25 and 2025–26. Investors are paying CGT on far smaller portfolios than they used to. Here’s the 2026 picture. CGT Rates in 2026 Lower …
Inheritance Tax in 2026 — Nil-Rate Band and Residence Allowance Inheritance Tax (IHT) hits more UK estates each year as house prices outpace allowances. In 2026 the rules are largely unchanged from prior years but the practical relevance has grown. Here’s where you stand. The Two Allowances Nil-Rate Band (NRB): £325,000 per person. Estates below …
VAT Registration Threshold: When You Must Register — If your business turnover exceeds £90,000 in any rolling 12-month period (2026 threshold), you must register for VAT. Many small businesses fall foul of this by accident. Here’s the practical guide. The Registration Threshold 2026 Compulsory registration: Your taxable turnover exceeds £90,000 in the past 12 months …
Capital Gains Tax UK 2026: New Rules and Annual Allowance — CGT changes have made disposals significantly more expensive in 2026. Knowing the rules can save you £1,000s — and sometimes the difference between selling now vs holding. The 2026 CGT Rate Structure For most assets disposed of in 2026/27: Within basic-rate band: 18% (raised …
Marriage Allowance: Claim £1,260 Back (Backdated 4 Years) — The Marriage Allowance lets a non-working or low-earning spouse transfer £1,260 of their Personal Allowance to their higher-earning partner. The recipient saves up to £252 per year on tax. Most eligible couples don’t claim it. How It Works Standard scenario: One spouse earns under £12,570 (Personal …
HMRC Self-Assessment 2026: Deadlines, Mistakes & Reliefs Most People Miss — If HMRC sends you a Self-Assessment notice — or you have self-employment, rental income, or untaxed income over £1,000 — getting this right can save you hundreds or even thousands in tax each year. Here’s the 2026 essentials. Key Deadlines 5 October: Register for …