01
Corporation Tax
19%
Small profits
up to £50,000
up to £50,000
Marginal Relief zone£50,001 – £250,000
Main rate (above £250k)25%
Effective marginal rate in relief zone26.5%
Associated companies
Lower limit ÷ no. of companies÷ £50,000
Upper limit ÷ no. of companies÷ £250,000
Key deadlines
CT payment due9 months + 1 day
CT600 return filing12 months
R&D Credit (RDEC)20%
Patent Box rate10%
02
Income Tax & Dividends
Personal Allowance (frozen to 2031)£12,570
Basic rate (20%) band£12,571 – £50,270
Higher rate (40%) band£50,271 – £125,140
Additional rate45% above £125,140
£100k–£125,140 effective marginal rate
60%
Dividend tax rates ↑ Apr 2026
Dividend Allowance£500
Basic rate dividends10.75%
Higher rate dividends35.75%
Additional rate dividends39.35%
Key allowances
Annual Pension Allowance£60,000
ISA allowance£20,000
03
National Insurance
Employee (Class 1)
Below £12,5700%
£12,570 – £50,2708%
Above £50,2702%
Employer (Class 1 secondary)
Secondary threshold£5,000 / year
Rate above threshold — no upper cap15%
Employment Allowance£10,500
Self-employed (Class 4)
£12,570 – £50,270 profits6%
Above £50,270 profits2%
Class 2 (voluntary)£3.65 / week
Key thresholds
Lower Earnings Limit£6,708 / year
Upper Earnings Limit£50,270 / year
04
VAT
20%
Standard rate
5%
Reduced rate
Zero rate0% (input VAT reclaimable)
Exempt supplies0% (no reclaim)
Thresholds
Registration threshold£90,000
Deregistration threshold£88,000
Notify HMRC within30 days
Scheme turnover limits
Flat Rate Scheme (join)≤ £150,000
Cash & Annual Accounting≤ £1.35m
Limited Cost Trader FRS rate16.5%
MTD for VAT — all registered businessesMandatory
05
Capital Gains Tax
Annual Exempt Amount£3,000
Main rates
Basic rate (most assets)18%
Higher / additional rate24%
Residential property (both bands)18% / 24%
Carried interest32% flat
Reliefs
BADR rate ↑ Apr 2026
18%
BADR lifetime limit£1,000,000
Investors' Relief rate18%
Investors' Relief lifetime limit£1,000,000
Residential property — report & pay60 days
Main residence (PRR)Fully exempt
06
Key Deadlines & Penalties
Self Assessment
Register (new self-employed, 2025/26)5 Oct 2026
Paper return (2025/26)31 Oct 2026
Online return + pay balance + 1st POA31 Jan 2027
2nd Payment on Account31 Jul 2027
SA penalties
Day 1 late£100
3 months late — per day (max 90)£10 / day
6 & 12 months late5% tax or £300
Late payment interest
All taxes — BoE base + 4%8.00% p.a.
Corporation Tax
Payment — 9 mths + 1 day after year-endBefore filing
CT600 — 12 months after year-end12 months
07
Payroll & PAYE
National Living / Minimum Wage ↑ Apr 2026
Age 21+ (National Living Wage)£12.71 / hr
Age 18–20£10.85 / hr
Age 16–17 & apprentices£8.00 / hr
Statutory pay rates
Statutory Sick Pay (SSP) — day 1 now new£123.25 / wk
Statutory Maternity / Paternity / Adoption£194.32 / wk
Lower Earnings Limit (eligibility)£129 / wk
PAYE payment deadlines
By cheque (monthly)19th
Electronically (monthly)22nd
Auto-enrolment
Minimum total contribution8%
Minimum employer contribution3%
08
Expenses & Capital Allowances
Capital allowances
Annual Investment Allowance100% / £1m
Main pool WDA ↓ Apr 2026
14%
Special rate pool WDA6%
New 40% First Year Allowance (Jan 2026)40%
Zero-emission vehicles100% FYA
Mileage rates (HMRC approved)
Cars / vans — first 10,000 miles45p / mile
Cars / vans — above 10,000 miles25p / mile
Motorcycles24p / mile
Flat rates & exemptions
Home working (25–50 hrs/month)£10 / month
Director homeworking allowance£6 / week
Annual staff party exemption£150 / head
Trivial benefit exemption (directors: £300/yr)< £50 / item
09
Making Tax Digital
MTD for VAT — already mandatory
All VAT-registered businessesNow — no threshold
Digital records + MTD softwareRequired
MTD for ITSA rollout
Gross income > £50,000 — from6 Apr 2026
Gross income > £30,000 — from6 Apr 2027
Gross income > £20,000 — from6 Apr 2028
Partnerships — mandation dateNot yet set
Quarterly update deadlines
Quarter 1 (Apr–Jun / Apr–Jul)7 Aug 2026
Quarter 2 (Jul–Sep / Jul–Oct)7 Nov 2026
Quarter 3 (Oct–Dec / Oct–Jan)7 Feb 2027
Quarter 4 (Jan–Mar / Jan–Apr)7 May 2027
Final Declaration31 Jan 2028
2026/27 soft landing — filing penaltiesSuspended