Diary Dates
22 July 2026 – P11d Class 1a NIC Payment Reminder
Electronic payments for Class1a NICs declared on your P11d(b) forms must be in HMRC’s bank account by 22 July 2026. And don’t forget to add 2613 to the end of your 13-character accounts office reference as this tells HMRC that your payment relates to Class 1 NICs rather than your normal monthly PAYE.
31 July 2026 - Payments on Account Reminder
If you pay self-assessment tax, don’t forget that 31st July is the deadline for making your second payment on account for the 2025-26 tax year.
7 August 2026 – First MTD Quarterly Update Deadline
Self-employed and property income tax payers need to be ready to file their first quarterly update using MTD compatible software by 7 August 2026.
Standard Industrial Classification (SIC) Code
Companies House are reminding Limited Companies to ensure that their 5-digit SIC code(s) is up to date and accurately reflects the businesses’ activities. Under new powers from the Economic Crime and Corporate Transparency Act Lenders Companies House can challenge, reject or remove information that is incorrect or misleading which could in turn make regulatory filing difficult. Additionally, lenders and funding bodies use these codes to assess eligibility so if you are considering making an application it would be worth checking the condensed list on Companies House website: https://resources.companieshouse.gov.uk/sic
Unfair Dismissal Reforms
Employers need to prepare now for changes to unfair dismissal as the qualifying period to bring a claim reduces from 2 years to 6 months from January 2027. This means all employees who have completed 6 months’ service by that date (i.e. anyone already employed or who starts work for you after 1 July) will gain protection immediately.
Self-Assessment 2026-27
Most, if not all, of you will have received our first reminder asking for your tax return information. This may seem early, but filing your tax return early doesn’t mean you need to pay early. Instead, it means you know what you’ll need to pay in plenty of time to allow you to budget for 31 January 2027 and if you are due a refund, this can be processed back to you sooner.
Did you know? You can send your documents to us digitally by email, file transfer or . . .
Ask us about Dext. Once we’ve set you up with an account you can simply take a quick photo of your receipts on the go and/or forward your bank statements and other documents by email.
Don’t forget to tell us about any changes, e.g. stopped self-employment, got married, moved house etc..
And if you are a shareholder in a close company, remember that you will now need to report your share capital percentage and dividend income received.
And lastly, if you think you might need to submit a tax return for the first time in 2026-27 make sure you are registered for self-assessment by 5 October 2026.
Seasonal & Temporary Workers
If your business is seasonally busy and/or you need to cover existing staff holidays and are planning to hire temporary workers, don’t forget to check their right to work and ensure they receive the National Minimum or Living Wage (dependent upon their age). It is also worth bearing in mind that temporary workers may accrue annual leave entitlement and be entitled to enrolment in your workplace pension.
Youth Jobs Grant
Alternatively, you could receive a £3,000 grant (in 2 instalments) to take on an eligible young person aged 16-24 for a minimum of 25 hours per week in a role expected to last for at least 4 months. To apply you need to complete an online application, and a young person will be identified by the job centre. www.business.gov.uk/campaign/recruit-with-jobcentreplus/build-your-future-workforce/
We are here to work alongside you, help you prosper, and turn profit into lasting wealth. Please do get in touch at any time for strategic tax and business advice.
Janet, Lucy, James, Josh, Dawn, Becky, Nat & Leanne
01969 624999