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13/10/2026

MTD for Income Tax — your Q2 submission deadline is 7 November.

If you are on Making Tax Digital for Income Tax, your second quarterly update covers the period 6 July to 5 October 2026.

That submission is due by 7 November.

Here is what that means in practice:

Your digital records for that period need to be up to date
Your MTD-compatible software needs to be connected to HMRC
The submission needs to go through before the deadline

Missing a quarterly update can trigger a points-based penalty. Four points and HMRC issues a financial penalty.

If you are unsure whether your records are ready or your software is correctly linked, now is the time to check.

We are here if you need a hand.

07/10/2026

The Autumn Budget is three weeks away.

On 28 October 2026, Chancellor John Healey will deliver his first Budget.

For business owners, it is one of the most closely watched events of the financial year.

Corporation tax, business rates, employment costs, investment reliefs and personal tax thresholds can all shift in a single afternoon.

No specific measures have been confirmed yet. But that is precisely what makes the weeks before a Budget a useful time to review where your business stands.

Not to predict what will be announced, but to understand your current position clearly so you can respond quickly once the detail is known.

The businesses that tend to navigate Budget changes well are those that go in prepared. Reviewing your salary and dividend structure, checking your investment plans, and making sure your tax position is up to date before 28 October gives you options that last-minute planning does not.

📩 If you would like to talk through your position ahead of the Budget, message us or visit solid.accountants.

28/09/2026

VAT rates are not static, and keeping track of which rate applies to your products or services matters more than most business owners realise.

From 1 September 2026, the temporary reduced VAT rate that had applied to children's meals, tickets and family attraction entry reverted to the standard 20% rate. Businesses operating in hospitality, leisure and family entertainment that did not update their tills, booking systems and pricing will have been charging the wrong rate.

This is a straightforward example of something that catches businesses out regularly. A VAT rate changes, the announcement is made, and in the day-to-day running of a business the update simply does not happen in time.

HMRC expects the correct rate to be charged from the date a change takes effect, not from the date you noticed it. Errors can result in either overcharging customers or underpaying HMRC, both of which create problems that take time and cost to resolve.

If your business charges VAT, having a process for monitoring rate changes is worth building into how you work.

23/09/2026

If you employ people and provide benefits alongside their salary, a major change is coming in April 2027.

From 6 April 2027, mandatory payrolling will be introduced for most employee benefits in kind (such as company cars, private medical insurance, fuel, and van benefits).

Instead of submitting annual P11D forms after the tax year ends, Income Tax on these benefits will be calculated and deducted in real time through payroll each month.

While Income Tax moves to real-time payroll, Class 1A National Insurance on payrolled benefits will still be reported annually on Form P11D(b) and paid as a single payment in July.

For many small employers, this shift requires updating payroll software, adjusting internal HR workflows, and tracking benefit adjustments on a month-to-month basis rather than relying on a year-end data collection exercise.

Employers can register voluntarily with HMRC to start payrolling benefits before the 6 April deadline for the upcoming tax year.

Registering early gives you the opportunity to refine your processes before payrolling becomes mandatory in April 2027, a deadline that is closer than it looks.

17/09/2026

Funding Opportunity: £10M Hospitality Support Fund Now Open

The UK government has launched the £10 Million Hospitality Support Fund (HSF) to back independent pubs, restaurants, cafes, and hospitality businesses.

If you have a delivery-ready project that can deploy quickly within the 2026–27 financial year, this grant aims to address sector challenges and support growth across several key areas:

Business Resilience & Viability: Diversifying revenue streams, repurposing space, or stabilizing trading.

Sustainability & Cost Efficiency: Energy-efficient tech upgrades, food waste reduction, and lowering operating costs.

Productivity & Tech Adoption: Implementing workforce management, forecasting tools, or process innovations.

High Street & Evening Economy Activation: Initiatives that boost footfall, extend trading hours, or improve local coordination.

Skills & Employment Pathways: Training, work-readiness programs, and recruitment pipelines.

Key Window: Applications opened on 1 September 2026 and close on 13 October 2026. Funds are awarded on a competitive basis and may be fully committed quickly, so early application is strongly recommended.

If you have a potential project in mind and want help reviewing your proposal's alignment or delivery plan before submitting, please reply directly to this message.

15/09/2026

HMRC has started automatically enrolling taxpayers into Making Tax Digital.

From September 2026, where HMRC believes a sole trader or landlord should already be using MTD for Income Tax but has not yet registered, it is beginning to sign them up automatically.

If you earn over £50,000 from self-employment or property and you have not yet engaged with MTD, this matters. You could already be enrolled without realising it, which means you would have obligations in place that you are not yet meeting.

The first quarterly deadline has passed. The second is 7 November 2026.

MTD does not replace your Self Assessment tax return. It sits alongside it. Quarterly updates are summaries of income and expenses submitted through compatible software. They are not complex, but they do require the right tools and a basic habit of keeping records throughout the year rather than at the end of it.

If you are unsure whether you have been enrolled or what your obligations are, now is the right time to check.

09/09/2026

If you are a business owner thinking about passing shares to a family member or the next generation, there is a change to Capital Gains Tax gift holdover relief worth knowing about.

Holdover relief allows CGT to be deferred when certain business assets are gifted rather than sold. Instead of triggering an immediate tax charge, the gain is passed to the recipient and becomes taxable only when they eventually dispose of the asset. It is commonly used by owner-managers transferring shares as part of succession planning.

The government has published draft legislation that will update the formula used to calculate how much relief is available. The change takes effect from 6 April 2027 and is designed to remove distortions that arose when certain intangible assets and shareholding exemptions were introduced years ago.

In practice, this means the relief should operate more generously for some share transfers than it currently does.

If you are considering transferring shares in your business, whether to a family member, into a trust or as part of a wider restructure, the timing of that transfer relative to April 2027 may be worth thinking through carefully before you commit.

01/09/2026

The Autumn Budget is confirmed for 28 October 2026.

It will be Chancellor John Healey's first Budget, and for business owners it is one of the most important dates in the financial calendar. Announcements made on Budget Day can affect corporation tax, business rates, employment costs, investment reliefs and more.

No specific tax changes have been confirmed yet. But that is precisely why now is a useful time to review where your business stands.

If your tax planning, salary and dividend structure, or investment decisions are based on the rules as they stood a year ago, a pre-Budget review makes sense. Not to predict what will be announced, but to make sure your current position is as strong as it can be before anything changes.

The businesses that tend to navigate Budget changes best are those that go in with clear numbers and an up to date plan, rather than scrambling to react after the fact.

25/08/2026

If you run your business through a limited company and pay yourself in dividends, this tax year brings a change worth understanding.

The dividend tax rate has increased by two per cent from April 2026. That applies to both basic and higher rate taxpayers.

Combined with the dividend allowance being reduced to £500 in recent years, the amount of dividend income you can take before paying tax is now significantly lower than it was a few years ago.

For a director taking a modest salary topped up with dividends, this shift affects your take-home pay in a way that is easy to overlook if you are not actively reviewing your structure.

It does not mean dividends are no longer the right approach. For most owner-managed businesses they still are. But the calculation has changed, and the numbers need revisiting.

If you have not had a conversation with your accountant about how this affects your personal tax position for 2026 to 2027, it is worth having before the year moves on any further.""
This is one of the most common points of confusion we see with growing businesses, and it catches people out at the worst moments.

You can be profitable on paper and still run out of money. Here is how it happens.

You invoice a client in June and they pay in September. Your accounts show the income but your bank account has not seen it yet.

You invest in stock or equipment. Your profit and loss does not show it as a cost but your cash balance drops immediately.

You have a strong quarter, a large tax bill arrives, and suddenly the numbers stop adding up.

Profitable businesses do occasionally fail because of cash flow problems. It is not common but it happens, and it is entirely avoidable with the right visibility.

Knowing the difference between what you have earned and what you actually have available changes how you run your business.

17/08/2026

The first MTD quarterly deadline has just passed.

If you are a sole trader or landlord earning over £50,000 and you submitted your Q1 update on time, well done. That is the hardest one done because it was the first.

If you missed it or are still not sure whether you were in scope, here is what you need to know.

HMRC has confirmed it will not issue penalty points for late quarterly updates during the 2026 to 2027 tax year. So missing the 7 August deadline will not result in an automatic fine this year. But the obligation is still there, and the next deadline is 7 November 2026.

More importantly, the penalty grace period ends in April 2027. From that point, late submissions will carry real consequences.

The time to get organised is now, while HMRC is still in its softer enforcement phase. Choosing software, setting up bank feeds and understanding what a quarterly update actually requires takes more time than most people expect.

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Eagle House, 163 City Road
London
EC1V1NR

Opening Hours

Monday	9am - 5pm
Tuesday	9am - 5pm
Wednesday	9am - 5pm
Thursday	9am - 5pm
Friday	9am - 5pm

Telephone

+443333443993

Website

http://solid.accountants/

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