BIRDS ACCOUNTANTS
BIRDS ACCOUNTANTS
Sole traders & small businesses · Updated 7 November 2026
The latest tax and money changes that matter to UK sole traders, including those in Cheshire and Manchester, in plain English.
7 Nov 2026
Your 2025/26 tax return must be filed online, and any tax paid, by 31 January 2027. File late and HMRC charges a £100 penalty, even if you owe no tax.
7 Nov 2026
Since April 2026, sole traders with qualifying income over £50,000 must keep digital records and send HMRC quarterly updates. From April 2027 the limit drops to £30,000. If your business income is near that, now is the time to get set up.
7 Nov 2026
If you pay tax in two lump sums each January and July, this is set to change to smaller, more frequent payments through the year from April 2029. The details are not confirmed yet. Start putting tax aside each time you are paid so you are ready.
6 Nov 2026
HMRC is writing to people who own or control small limited companies, asking them to check their tax returns include things like director loans, personal costs paid by the company and use of company assets. Corrections are asked for by 31 January 2027. Putting mistakes right yourself, before HMRC finds them, usually means lower penalties.
This page is general information, not tax or legal advice. Rules can change, so check the source or get in touch about your own situation.
Message me for a free, friendly chat. No obligation, no jargon.