Key Dates 26/27 tax year

Vehicle Mileage Update

As of 6th April 2026, the vehicle mileage allowance has increased from 45p per mile up to 10,000 miles to 55p per mile up to 10,000 miles.

After 10,000 miles the rate is still 25p per mile

This also applies to self employed using simplified expenses.

Reminder -

If you are using simplified expenses then you can not separately claim for fuel, insurance, vehicle tax, servicing or other running costs.

Making Tax Digital for Income Tax

From 6 April 2026, sole traders and landlords with qualifying income of more than £50,000 in the 2024/25 tax year must use Making Tax Digital for Income Tax.

This means keeping digital records, using HMRC-compatible software, submitting quarterly updates, and completing your annual tax return digitally. Qualifying income generally includes self-employment and property income

Making Tax Digital for Income Tax is being introduced in phases:

From 6 April 2026 for individuals with qualifying income over £50,000.
From 6 April 2027 for individuals with qualifying income over £30,000.
From 6 April 2028 for individuals with qualifying income over £20,000.

Making Tax Digital Updates (for the 2026/2027 tax year) -

- Q1 6th April - 5th July. Due 7th August

- Q2 6th July - 5th October. Due 7th November

- Q3 6th October - 5th January 2027 . Due 7th Feb

- Q4 6th January - 5th April. Due 7th May

- Final Declaration 6th April 2026 - 5th April 2027. Due 31st January 2028

Minimum Wage Update

Age Group

New (as of 1st April 2026)

21 and over

18-20 Year old

16-17 Year old

Apprentice rate

(1st year only)

£12.21

£10.00

£7.55

£12.71 (+50p)

£10.85 (+85p)

£8.00 (+45p)

FOCUS
FINANCIALS