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 2026/27
Estimate the Capital Gains Tax on a crypto disposal for 2026/27. Gains above the £3,000 annual exempt amount are taxed at 18% within the basic rate band and 24% above it. This page also sets out HMRC's pooling and…
Self Assessment Late Filing Penalty: 2025/26 Fines, Interest and Appeals
Late filing and late payment penalties for 2025/26 Self Assessment returns, HMRC's late payment interest rate, reasonable excuses and how…
UTR Number: What It Is, Where to Find It and What to Do If It Is Lost
What a UTR number is, who needs one, where to find it (personal tax account, HMRC app, HMRC letters) and how to get a lost personal or…
How to Report Crypto on Your Self Assessment Tax Return (2025/26)
Crypto gains go in the cryptoasset section of the SA108 capital gains pages for 2025/26, due 31 January 2027. Pooling, boxes, records and…
Crypto Losses and UK Tax: How to Claim Them in 2025/26
A crypto loss reduces tax only once you dispose and claim it. Claim limits, carrying losses forward, negligible value claims, lost keys and…
When is the Next Self Assessment Deadline? Key Dates for 2025/26
The online Self Assessment deadline for 2025/26 is 31 January 2027. Key dates, penalties and payments on account, checked against GOV.UK.
How to Get a Self Assessment Tax Refund for 2025/26
How to get a Self Assessment tax refund: when you are owed tax back, how to claim it online, GOV.UK timescales and what happens to a credit.
Self Assessment for Landlords: Filing Your 2025/26 Tax Return
Landlords must file a 2025/26 return if rental income tops £2,500 after expenses or £10,000 before. Expenses, mortgage interest, joint…
How to Amend a Self Assessment Tax Return After Submitting It
How to correct a Self Assessment tax return after filing: deadlines, online and paper steps, interest and penalties, and overpayment relief…
Tax on Staking and Mining Rewards UK: HMRC Rules for 2025/26
Staking and mining rewards are taxable when received, at their pound sterling value on that date. How HMRC decides between trading and…
DeFi Tax UK: How HMRC Taxes Lending and Liquidity Pools
HMRC's DeFi guidance turns on two questions of fact: whether beneficial ownership of your tokens passed, and whether the return is capital…
How Much Tax Should I Put Aside When Self-Employed? (2026/27)
How self-employed people work out what to set aside for tax in 2026/27, using Income Tax bands and Class 4 National Insurance, with a…
When Do I Need to Pay My Self Assessment Tax Bill? 2025/26 Dates
Self Assessment tax for 2025/26 is due by 31 January 2027, with payments on account for 2026/27 on 31 January and 31 July 2027. Who pays…
Tax Codes and Allowances for 2026/27: 1257L, Emergency Codes and Bands
The standard tax code for 2026/27 is 1257L, reflecting the £12,570 Personal Allowance. What every tax code letter means, how emergency, K…
How to File Your Self Assessment Tax Return Online for 2025/26
File your 2025/26 Self Assessment return online in six steps: register, sign in, gather records, complete the sections, submit and pay by…
How to Contact HMRC: Phone Numbers, Addresses and Opening Times
Every main HMRC helpline, postal address and opening time, checked against GOV.UK on 17 September 2026: Self Assessment, Income Tax, VAT…
Crypto Tax UK: How HMRC Taxes Cryptoassets
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 Do I Pay HMRC Early? Paying Self Assessment in Advance
You can pay Self Assessment tax early with one-off payments or weekly and monthly Direct Debits through a Budget Payment Plan. How each…
Tax Relief for Doctors, Nurses & Healthcare Workers: What Can You Claim?
Employed doctors, nurses and healthcare workers can claim tax relief on professional fees paid to bodies on HMRC's List 3 (GMC, NMC, GDC…
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…
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…
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…
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…
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…
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…
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…
Locum Pharmacist Tax Guide: Self-Employed, PAYE or Limited Company?
Locum pharmacists are paid via PAYE, self-employment or a limited company. Employment status depends on the facts of each engagement —…
Locum Doctor Tax Guide: Self-Employed vs Limited Company
Most locum doctors are taxed as self-employed sole traders, paying Income Tax and Class 4 National Insurance through Self Assessment. Some…
HMRC Mileage Rates and Allowance - How to Claim
HMRC sets approved mileage allowance payments (AMAPs) for business travel in personal vehicles: 55p 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…
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 2026/27 has two rates: a 19% small profits rate on taxable profits up to £50,000 and a 25% main rate on profits…
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 2026/27 is £500, unchanged from 2025/26. Any dividend income above that is taxed at 10.75% in the basic-rate…
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 2026, the rate is…
What are Capital Allowances?
Capital allowances let UK businesses deduct the cost of qualifying assets from taxable profits. For 2026/27, 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…
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…
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 2026/27, the taxable benefit equals…
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 2026/27, the personal…
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…
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…
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…
Capital Gains Tax, CGT Rates and Allowance
For 2026/27, capital gains tax rates are 18% for basic-rate taxpayers and 24% for higher-rate taxpayers on all chargeable assets, including…
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…
What is the Optimum Director's Salary 2026/27?
The optimum director's salary for 2026/27 is usually £12,570, matching the personal allowance and securing a qualifying state pension year…
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…
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, receive rental income exceeding £2,500, or…
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…
Most tax-efficient director's salary and dividends for 2026/27
The most tax-efficient director's pay for 2026/27 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%…
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…
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…
GoForma's FAQs around Self Assessment Tax Returns
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…
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…
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 do I pay national insurance?
National Insurance contributions fund your state pension and benefit entitlements. Employees pay Class 1 through PAYE, deducted…
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…
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…
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…
NHS Pension Annual Allowance Explained: Limits, Taper & Charges
The NHS pension annual allowance is the limit on tax-favoured pension growth each tax year — £60,000 for 2026/27. Because the NHS Pension…
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…
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…
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 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…
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…
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…
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…
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…
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…
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 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…
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 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…
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…
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 PAYE?
UK employers must register for PAYE with HMRC before their first payday, but no earlier than two months before employees start…
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…
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…
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…
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…
How do I claim entrepreneurs relief?
Business Asset Disposal Relief, previously called Entrepreneurs' Relief, reduces the Capital Gains Tax rate on qualifying business…
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 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…
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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?
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