Joshua
The new UK tax year for 2026/27 begins on 6 April 2026 and runs until 5 April 2027. Key changes include a rise in Business Asset Disposal Relief rate to 18%, new employment benefit exemptions, and continued frozen tax thresholds, which may cause higher tax payments as income rises.
For many people, the tax year change brings new allowances, thresholds, and deadlines to keep track of. If you run a business or manage finances for your household, now is the perfect time to review your records and prepare for the year ahead.
What changes with the new tax year?
Each April, the government typically updates tax allowances and thresholds. These changes can affect how much tax you pay, what you need to declare, and important deadlines you’ll need to meet. It’s worth checking the latest guidance from HMRC to see if any changes apply to your situation.
Key 2026/27 Tax Year Information:
- Start Date: 6 April 2026
- End Date: 5 April 2027
- Key Changes & Dates:
- 6 April 2026: New tax codes (e.g., P9X) take effect.
- 6 April 2026: Capital Gains Tax rate for Business Asset Disposal Relief (BADR) increases from 14% to 18%.
- 5 October 2026: Deadline to register for Self Assessment with HMRC for the 2025/26 tax year.
- 31 October 2026: Deadline for paper Self Assessment tax returns for 2025/26.
- 31 January 2027: Deadline for online Self Assessment tax returns and payment for 2025/26.
- Income Tax & NI: While headline rates remain, frozen thresholds mean more income could be taxed at higher rates.
- Scotland: Scottish income tax rates and bands for 2025/26 differ from the rest of the UK, with bands starting from 19% up to 48%
Getting organised
With just days until the new tax year begins, it’s a good time to gather your records, update your accounts, and review any changes that might affect your tax position. Whether you work with an accountant or manage your own finances, having everything in order will make the year run more smoothly.
The 2026/27 tax year is your opportunity to plan ahead and stay on top of your financial obligations. Start the year right by being prepared.
