What are the 2026 Tax Deadlines for Small Businesses? Expert Guide

The January peak

January 31 2026, is the most critical date in the diary. By midnight, you must:

· File your 2024/25 Self-Assessment return online.

· Pay the balancing payment for the tax year ending April 5 2025.

· Pay your first payment on account for the 2025/26 tax year if applicable.

Missing this deadline results in an immediate £100 penalty, with interest accruing on any unpaid tax.

Spring and the "new era"

As we move into the spring, the focus shifts to the end of the current tax year (April 5 2026) and the launch of a new reporting regime.

April 6 2026: The MTD for ITSA Launch. This is the date Making Tax Digital for Income Tax Self-Assessment (MTD for ITSA) becomes mandatory for its first phase. If you are a sole trader or landlord with a qualifying gross income over £50,000 in 2024/25, you must begin keeping digital records and using MTD-compatible software from this date.

What are the MTD changes?

Under MTD, the traditional annual tax return is replaced by a more frequent "real-time" system. Instead of one filing per year, those in scope will need to:

1. Keep digital records of all business income and expenses.

2. Submit quarterly updates to HMRC through compatible software.

3. Provide a final declaration by January 31 following the tax year end.

The goal is to reduce manual errors and provide businesses with a clearer view of their tax position throughout the year. For those with an income over £30,000, the mandate begins a year later in April 2027 and those with income over £20,000 from April 2028.

Key employer and VAT dates

The administrative requirements continue throughout the summer:

· April 19 2026: Deadline to submit your final Full Payment Summary (FPS) and Employer Payment Summary (EPS) for the 2025/26 tax year.

· 31st May 2026: You must issue P60s to all employees on your payroll as of 5th April.

· 6th July 2026: Deadline for submitting P11D and P11D(b) forms for employee benefits.

· July 22 2026: Deadline for electronic payment of Class 1A NICs.

· July 31 2026: Your second payment on account for the 2025/26 tax year is due if applicable.

Looking ahead to Autumn

· October 5 2026: Deadline to register for Self-Assessment if you started a new business or had new untaxed income in the 2025/26 tax year.

· October 31 2026: Deadline for paper Self-Assessment returns for the 2025/26 year (though we strongly recommend switching to digital).

· January 31 2027: The final deadline for the 2025/26 online Self-Assessment return and the first payment on account for 2026/27.

Shifting goal posts

On March 3, 2026, the Spring Forecast will be held. This provides economic forecasts and details for the upcoming fiscal year.

And on a date still to be announced, but usually late October/November, there will be the Autumn Budget Statement.

How We Can Help

The transition to Making Tax Digital is the most significant change to the UK tax system in a generation. With HMRC already contacting those in the first wave, now is the time to ensure your systems are ready. Whether you need help selecting MTD-compatible software or want us to manage your quarterly updates entirely, Hedges-Quinn is here to support you.

We help you protect your business in three key ways:

· Avoiding Costly Fines: Beyond the initial £100 late penalty, HMRC can apply additional 5% charges at 30 days, 6 months, and 12 months. We ensure your filings are accurate and on time to keep that money in your pocket.

· Professional Representation: We act as your authorised agent, handling correspondence and queries from HMRC for you. We are the professional barrier that saves you time and stress.

· Future-Proofing: If you are unsure if you meet the £50,000 threshold for April 2026, we can review your accounts now and create a roadmap for the transition.

Ready to take the "tax mountain" off your to-do list? Don't wait for the April deadline to add more stress to your plate. Get in touch with Hayley today for a chat about how we can get your 2026 accounts in order early. Please call the office on 01473 657853 to arrange a convenient time to discuss how we can support you and your business.