We can help navigate the new business start up.

We can also help with the closedown process too…

New Startup Information

Business Closedown process

  • Creditors letters

  • HMRC

  • The Gazette

  • Liquidators

Limited Company Accounts

Essentially, there are now 2x types of company in the United Kingdom.

  • Via Companies House

  • Register with HMRC

HMRC

HMRC

His

  • Companies House

  • Gateway ID

    UTC

  • Tax on operating profits, in addition to tax on PAYE income (Income tax) and Dividend payment (Self Assessment tax)

  • Generally 20% tax on sales.

    International sales tax & EORI vary

  • EmployERs PAY AS YOU EARN

    EmployEEs PAY AS YOU EARN

HMRC Self Assessment - SA302

Making Tax Digital for Income Tax starts in April 2026 for sole traders and landlords with qualifying income over £50,000.

  • 2026 : Individuals earning over £50,000 from self-employment or property income.

    • MUST submit quarterly updates using MTD-compatible software.

    • Implementation Timeline: MTD for Income Tax will begin on April 6, 2026, for individuals earning over £50,000 from self-employment or property income.

    • Digital Record-Keeping: Taxpayers must maintain digital records.

    • Benefits: The system aims to reduce errors, increase efficiency, and provide taxpayers with a clearer view of their financial obligations throughout the year.

    • MTD for VAT: Already in effect, benefiting over two million businesses by improving accuracy and reducing administrative burdens.

    • Testing Programme: HMRC encourages early adoption through its MTD testing programme, offering support and guidance to help taxpayers transition smoothly.

    For official guidance and updates, visit HMRC's MTD page.

    Making Tax Digital (MTD) is an initiative by HM Revenue & Customs (HMRC) aimed at modernizing the UK tax system by requiring businesses and individuals to keep digital records and submit tax returns electronically.

  • 2027: Individuals earning over £30,000 from self-employment or property income.

    • MUST submit quarterly updates using MTD-compatible software.

    • Those earning between £30,000 and £50,000 will be included from April 2027, with further expansion planned for April 2028 for those earning over £20,000.

    • Digital Record-Keeping: Taxpayers must maintain digital records and submit quarterly updates using MTD-compatible software.

    • Benefits: The system aims to reduce errors, increase efficiency, and provide taxpayers with a clearer view of their financial obligations throughout the year.

    • MTD for VAT: Already in effect, benefiting over two million businesses by improving accuracy and reducing administrative burdens.

    • Testing Programme: HMRC encourages early adoption through its MTD testing programme, offering support and guidance to help taxpayers transition smoothly.

  • 2028: Individuals earning over £20,000 from self-employment or property income.

    • MUST submit quarterly updates using MTD-compatible software.

    • Those earning between £30,000 and £50,000 will be included from April 2027, with further expansion planned for April 2028 for those earning over £20,000.

    • Digital Record-Keeping: Taxpayers must maintain digital records and submit quarterly updates using MTD-compatible software.

    • Benefits: The system aims to reduce errors, increase efficiency, and provide taxpayers with a clearer view of their financial obligations throughout the year.

    • MTD for VAT: Already in effect, benefiting over two million businesses by improving accuracy and reducing administrative burdens.

    • Testing Programme: HMRC encourages early adoption through its MTD testing programme, offering support and guidance to help taxpayers transition smoothly.

    For official guidance and updates, visit HMRC's MTD page.