HMRC Updates
Stay informed with the latest tax rates, thresholds, and regulatory changes. All updates sourced directly from HMRC and GOV.UK.
Personal Allowance confirmed frozen at £12,570 through 2028
HMRC has confirmed the Personal Allowance will remain at £12,570 through the 2027/28 tax year. The basic rate limit also stays frozen at £37,700, creating additional fiscal drag for taxpayers with rising incomes.
Spring Statement 2026: Key tax changes announced
The Chancellor’s Spring Statement includes several tax measures affecting individuals and businesses. Key changes include adjustments to the High Income Child Benefit Charge thresholds and new EIS investment limits.
MTD for Income Tax: April 2026 deadline approaches
Self-employed individuals and landlords with income above £50,000 must comply with Making Tax Digital for Income Tax from April 2026. HMRC urges taxpayers to sign up and choose compatible software.
Corporation Tax marginal relief calculator updated
The GOV.UK Corporation Tax marginal relief calculator has been updated for the 2025/26 period. Companies with profits between £50,000 and £250,000 can use the tool to calculate their effective rate.
NIC Class 1 thresholds for 2025/26 confirmed
HMRC has published the confirmed National Insurance contribution thresholds for 2025/26. The Primary Threshold remains at £12,570 per year, aligned with the Personal Allowance.
Self Assessment deadline: 1.2M returns filed on final day
HMRC reports that 1.2 million Self Assessment tax returns were filed on the 31 January deadline. Over 12.1 million returns were submitted for the 2024/25 tax year in total.
VAT registration threshold remains at £90,000
The VAT registration threshold remains at £90,000 for 2025/26. Businesses exceeding this turnover in any rolling 12-month period must register. The deregistration threshold stays at £88,000.
New tax year 2025/26 rates and allowances published
HMRC has published the full schedule of tax rates, allowances, and thresholds for the 2025/26 tax year. Key rates: Basic Rate 20%, Higher Rate 40%, Additional Rate 45%.
Autumn Statement: Corporation Tax rates confirmed
The Autumn Statement confirms the main rate of Corporation Tax remains at 25% for companies with profits over £250,000. The small profits rate of 19% applies to companies with profits under £50,000.
HMRC digital services: maintenance schedule announced
HMRC has published its digital services maintenance schedule for Q1 2026. Planned downtime windows will affect Self Assessment online, PAYE for employers, and VAT online services.