UK tax guides & explainers
Plain-English explainers on UK tax — income tax, corporation tax, VAT, self assessment, capital gains, and the rules around expenses, dividends, and payroll. Reviewed by ACCA and AAT qualified accountants.
UK Crypto Tax Calculator 2025/26
The UK Crypto Tax Calculator estimates Capital Gains Tax owed on cryptocurrency disposals for 2025/26. It applies the £3,000 annual exempt amount and splits gains across 18% basic-rate and 24% higher-rate bands based on…
Do I have to charge VAT to overseas customers?
UK VAT rules for international sales depend on whether you sell goods or services, whether your customer is a business or consumer, and…
What flat rate VAT percentage do I apply for multiple business sectors?
On the VAT Flat Rate Scheme, if your business spans more than one trade sector, HMRC requires you to apply the flat rate percentage for…
When do I make PAYE payments to HMRC?
Most employers pay PAYE and National Insurance to HMRC monthly, with the payment due by the 22nd of the following tax month (19th for…
How do I receive trading and property income allowance?
The trading allowance and property income allowance each provide a £1,000 annual tax-free threshold for self-employment income and property…
How do I register for flat rate VAT?
The VAT Flat Rate Scheme simplifies VAT accounting for small businesses by applying a fixed percentage to your gross turnover instead of…
What is a P11D - Benefits in kind?
A P11D is the form employers submit to HMRC each year to report non-cash benefits provided to employees and directors. These benefits in…
How do I receive tax free childcare?
Tax-Free Childcare is a UK government scheme that tops up working parents' childcare payments by £2 for every £8 paid, up to £2,000 per…
What is VAT and How VAT Works?
Value Added Tax (VAT) is a UK consumption tax charged at each stage of the supply chain, from manufacturer to final sale. The standard rate…
What are the 2020/21 Income Tax & National Insurance rates?
A historical reference covering the 2021/22 UK income tax bands and National Insurance contribution rates. The Personal Allowance stood at…
Can I claim VAT back on my mileage?
VAT-registered businesses not on the Flat Rate Scheme can reclaim VAT on fuel. Vehicles used exclusively for business allow a full claim…
How to pay your Self Assessment Tax
Self assessment tax is due by 31 January following the end of the tax year. HMRC accepts payment by online or telephone banking (same day…
HMRC Mileage Rates and Allowance - How to Claim
HMRC sets approved mileage allowance payments (AMAPs) for business travel in personal vehicles: 45p per mile for the first 10,000 car or…
Self Employed Expenses & Tax Allowances Guide
Self employed expenses are business costs that HMRC lets sole traders deduct from taxable profits on their Self Assessment return…
When is my company tax return due?
Your company tax return (CT600) must be filed with HMRC within 12 months of your accounting period end, but Corporation Tax itself must be…
A Guide to Unique Tax Reference Numbers
A Unique Taxpayer Reference (UTR) is a 10-digit number HMRC assigns to every individual or company registered for tax. Sole traders and…
How to Register for VAT?
UK businesses must register for VAT with HMRC once taxable turnover exceeds £90,000 in any rolling 12-month period or is expected to exceed…
How Do I Pay Corporation Tax?
Pay corporation tax to HMRC within 9 months and 1 day of the end of the accounting period, using Faster Payments, CHAPS, Bacs, online…
What is the Corporation Tax Rates in the UK?
UK corporation tax for 2025/26 has two rates: a 19% small profits rate on taxable profits up to £50,000 and a 25% main rate on profits…
Autumn Budget 2024 - Impact on Businesses
The Autumn Budget 2024, delivered by Chancellor Rachel Reeves on 30 October, introduced major changes affecting UK businesses. Employer…
Advantages and Disadvantages of VAT Registration
VAT registration brings clear benefits for UK businesses, including the ability to reclaim input VAT on purchases, improved credibility…
What is Corporation Tax in UK?
Corporation tax is a direct tax paid to HMRC on the profits of UK limited companies, foreign companies with a UK branch and members' clubs…
UK Dividend Tax Rates & Allowances
The dividend allowance for 2025/26 is £500, down from £1,000 the previous year. Any dividend income above that is taxed at 8.75% in the…
P60 Form - Do I Need One? Where do I Get One?
A P60 is an annual certificate your employer must issue by 31 May, summarising gross pay, Income Tax deducted, National Insurance…
What is Child Benefit in the UK?
Child Benefit is a tax-free payment made to parents or guardians responsible for raising a child in the UK. From April 2025, the rate is…
How to Change Accounting Reference Date?
Your accounting reference date (ARD) is the last day of your company's financial year and fixes when annual accounts are due at Companies…
What are Capital Allowances?
Capital allowances let UK businesses deduct the cost of qualifying assets from taxable profits. For 2025/26, the Annual Investment…
UK VAT Rates on Different Goods and Services
The UK has three VAT rates: 20% standard on most goods and services, 5% reduced on items such as domestic energy and children's car seats…
Self employed advisory fuel rates guide
HMRC advisory fuel rates are the mileage rates companies use to reimburse employees for business fuel in a company car, or to recover the…
Managing Invoices Whilst Waiting for VAT Registration
Once you apply for VAT registration, HMRC can take up to 30 working days to issue your VAT number. During that time you cannot show VAT on…
What are Dividends? Limited Company Dividends Explained
A dividend is a share of a company's after-tax profits paid to shareholders. UK limited companies can only declare dividends out of…
What is the VAT Flat Rate Scheme?
The flat rate VAT scheme is an HMRC-approved method that lets VAT-registered businesses with taxable turnover of £150,000 or less pay a…
Company Car Tax Explained - Rates, Rules and Costs
Company car tax is a benefit in kind charged when an employer provides a vehicle for private use. For 2025/26, the taxable benefit equals…
Self Employed Mobile Phone Expenses – What You Can Claim
Self-employed workers in the UK can claim the business portion of mobile phone costs as an allowable expense against their trading income…
How to reduce your Corporation Tax bill
UK limited companies pay corporation tax at 19% on profits up to £50,000 and 25% above £250,000, with a tapered marginal rate in between…
Self employed tax obligations guide
Self-employed workers in the UK pay Income Tax and Class 4 National Insurance on profits through Self Assessment. For 2025/26, the personal…
How do I claim back VAT?
Reclaiming VAT allows your business to recover tax paid on eligible purchases. You must be VAT-registered and submit claims through Box 4…
Can I claim using the cycle to work scheme?
The Cycle to Work scheme lets employers buy bicycles and safety equipment and loan them to employees via a salary sacrifice arrangement…
Capital Gains Tax, CGT Rates and Allowance
From 6 April 2025, capital gains tax rates are 18% for basic-rate taxpayers and 24% for higher-rate taxpayers on all chargeable assets…
An Overview of UK VAT Rules After Brexit
Since 1 January 2021, UK businesses trading with the EU must follow new VAT rules. EU goods entering the UK are treated as imports, with…
Last Minute Tax Saving Strategies to Reduce Tax Bill Before 5 April
UK taxpayers can reduce their tax bill before 5 April by using allowances that reset each tax year. Key strategies include contributing up…
Crypto Tax Implications in the UK
UK crypto tax applies when you dispose of, earn or receive cryptocurrency. HMRC treats most crypto as a capital asset, so selling, swapping…
How Many of Us Are Due A Pay Rise in April 2025?
From April 2025 the National Living Wage rises 6.7% to £12.21 per hour for workers aged 21 and over. Using ONS 2024 median wage data…
Autumn Budget 2024 Predictions - Potential Tax Changes and Rumuors
The Autumn Budget 2024, delivered on 30 October by Chancellor Rachel Reeves, introduced higher capital gains tax rates, an increase in…
Potential PM Liz Truss vows to review IR35 contractor laws
During the 2022 Conservative leadership contest, Liz Truss promised to review IR35 off-payroll working rules that shifted tax status…
Find a Company VAT Number in 4 Easy Ways
Your UK VAT number appears on your VAT registration certificate (Form VAT4), in your HMRC Business Tax Account via Government Gateway, and…
Making Tax Digital for Income Tax - What it Means for You?
Making Tax Digital for Income Tax Self Assessment (MTD for ITSA) requires sole traders and landlords above set income thresholds to keep…
UK Budget 2025 - What You Need to Know
The Autumn Budget 2025, delivered by Rachel Reeves on 29 October 2025, introduced frozen income tax thresholds until 2031, a 2% rise in…
Use of Home Allowance – How Contractors & Sole Traders Can Benefit
Self-employed workers and limited company directors working from home can claim a use of home allowance against business profits. HMRC…
Changes in Tax Codes & Allowances for 2025/26
Your tax code tells HMRC how much income tax to deduct from your pay or pension. The standard code for 2025/26 is 1257L, reflecting the…
How to File Self Assessment Tax Return
To file a self assessment tax return for 2025/26, register with HMRC by 5 October, gather your UTR number, P60s, income records and expense…
What is the Optimum Director's Salary 2025/26?
The optimum director's salary for 2025/26 is usually £12,570, matching the personal allowance and securing a qualifying state pension year…
Spring Statement 2025 - What it Means for Small Businesses and Contractors?
The Spring Statement 2025, delivered on 26 March 2025, confirmed no new tax measures but maintained already-announced Autumn Budget 2024…
Do I Pay Tax on Renting Out a Room in My Home?
The Rent a Room Scheme allows UK homeowners and tenants to earn up to £7,500 per year tax-free by letting a furnished room in their main…
Crypto Tax UK - Expert Guide for 2026
UK crypto tax splits into two regimes. Capital Gains Tax applies when you sell, swap, spend or gift crypto, at 18% or 24% depending on your…
How Soon Should I File My Self-Assessment for 2025/26
HMRC opens self assessment filing from 6 April each year, with paper returns due by 31 October and online returns by 31 January following…
Do I Need to Complete a Tax Return - Complete Guide
You must file a Self Assessment tax return if you are self-employed with income above £1,000, earn over £150,000, receive rental income…
How to Register for PAYE?
UK employers must register for PAYE with HMRC before their first payday, but no earlier than two months before employees start…
Paying VAT Online - 2026 Guide
VAT-registered businesses must pay any VAT owed to HMRC by one month and seven days after each VAT period ends. Payment options include…
What are VAT Returns? VAT Returns Explained
A VAT return is the quarterly report that VAT-registered businesses file with HMRC, detailing VAT charged on sales (output tax) and VAT…
What is National Insurance Number?
A National Insurance number (NINO) is a unique identifier made up of two letters, six digits and one suffix letter, issued by HMRC to track…
What is PAYE? How does Pay As You Earn Tax Work?
PAYE (Pay As You Earn) is the UK system through which employers deduct income tax and National Insurance from employees' wages before…
How to Find Unique Taxpayer Reference
Your personal UTR is a 10-digit number HMRC issues when you register for Self Assessment. You can find it on your SA250 welcome letter…
How Do I Find My VAT Quarter?
Your VAT quarter depends on the month you registered for VAT. HMRC assigns one of three quarterly cycles: January, April, July and October…
Allowable Expenses for Limited Companies - What You can Claim
UK limited companies can deduct any expense incurred wholly and exclusively for the trade from their taxable profits, reducing their…
How to File a VAT Return
UK VAT-registered businesses must file quarterly returns to HMRC using Making Tax Digital compatible software. Each return reports output…
How to Register for Corporation Tax?
A new UK limited company is automatically registered for Corporation Tax when incorporated through Companies House, and HMRC posts a…
Work from Home Tax Relief - 2026 Guide
Working from home tax relief lets UK employees and self-employed individuals offset additional household costs against their tax bill…
Most tax-efficient director's salary and dividends for 2025/26
The most tax-efficient director's pay for 2025/26 is typically a £12,570 salary topped up with dividends to the basic-rate threshold of…
What is Income Tax?
The HMRC Personal Tax Account (PTA) is a free online portal where UK individuals can view their tax code, check income and deductions…
Buying a Car through a Limited Company
Buying a car through a UK limited company can reduce corporation tax through capital allowances and, for electric vehicles, a 100%…
Key Changes in the Spring and Autumn Budget 2023 for Contractors
The Spring Budget and Autumn Statement 2023 introduced important changes for UK contractors. Key updates included National Insurance…
Autumn Statement 2022: What it means for you?
The Autumn Statement 2022, delivered by Chancellor Jeremy Hunt on 17 November, introduced sweeping tax changes for individuals and…
Self-employment tax changes to 2022/23 - thresholds, rates and allowances
This guide covers the main self-employment tax changes for the 2025/26 UK tax year. It explains the Class 4 NIC rate of 6% on profits…
Company Tax Return - CT600 Explained
A CT600 is the UK company tax return every active limited company must file with HMRC, reporting profits, allowances and Corporation Tax…
Self Assessment Tax Returns for the Self Employed
Self-employed workers in the UK report their trading profits to HMRC through the Self Assessment system. Online returns for the 2025/26 tax…
How do I pay national insurance?
National Insurance contributions fund your state pension and benefit entitlements. Employees pay Class 1 through PAYE, deducted…
How do I claim entrepreneurs relief?
Business Asset Disposal Relief, previously called Entrepreneurs' Relief, reduces the Capital Gains Tax rate on qualifying business…
Tax return and payment deadlines you need to know
Self Assessment tax return deadlines follow a fixed annual cycle. Paper returns must reach HMRC by 31 October, while online returns are due…
When is the Next Self Assessment Tax Return Deadline?
What is a Tax Period - UK Tax Dates and Deadlines
A tax period is the specific timeframe for which you must calculate and report your tax liability to HMRC. In the UK, tax periods vary…
How do I know how much tax to put aside?
Self-employed individuals in the UK should typically set aside 20-30% of their income for taxes, depending on their profit levels and…
When do I need to pay my self assessment tax bill?
Self assessment tax payments are due by 31st January following the end of the tax year. For the 2024/25 tax year, when is self assessment…
How to Contact HMRC? - HMRC Contact Numbers Guide
Need to contact HMRC but can't find ways to reach them? Find the right HMRC contact details including address, phone numbers, opening…
GoForma's FAQs around Self Assessment Tax Returns
How do I find my tax status?
To check tax status in the UK, log into your HMRC Personal Tax Account online or call HMRC directly on 0300 200 3300. Your tax status…
How do I pay HMRC early?
You can pay corporation tax early to HMRC through your Corporation Tax Online account, bank transfer, or by cheque before the normal due…
Explore our services
Looking for something specific? Browse our specialist accounting services for UK contractors, freelancers, and small businesses.
We prepare and file your SA100 — from £198/year.
Full-service accounting including Corporation Tax and statutory accounts.
VAT, PAYE, and end-of-year accounts for UK small businesses.
Specialist accounting for UK crypto traders and investors.
Frequently asked questions
Do I need an accountant to file my tax return?
Legally, no — anyone can file their own Self Assessment or Corporation Tax return. Practically, an accountant usually saves more than they cost by flagging reliefs you didn't know you could claim, preventing late-filing penalties, and keeping your records tidy for the year ahead.
When is the UK Self Assessment deadline?
For online returns, 31 January following the end of the tax year (6 April – 5 April). So for the 2025/26 tax year, your SA100 and any balancing payment are due by 31 January 2027. Paper returns are due 31 October.
Need tax advice for your specific situation?
Book a free 20-minute consultation with a qualified accountant. No pressure, no obligation.