Changes in tax regulations will lead to increased prices next week, affecting sole traders and landlords earning over £50,000. Starting April 2026, they’ll be required to maintain digital records and submit updates to HMRC quarterly, totaling five submissions per year under the Making Tax Digital scheme.
Starting April 2027, self-employed individuals and rental income earners with over £50,000 in gross income will need to comply with Making Tax Digital rules, requiring digital record-keeping and quarterly submissions to HMRC. The threshold for this requirement will decrease to £30,000 in 2028, then £20,000 thereafter.
Did you know, if your employer requires you to work at home, you can – and always have been able to – claim for increased costs due to working from home, eg, heating and electricity. Clearly, right now many firms have closed workplaces and that means across the UK millions of staff are temporarily required to work from home, […]