UK Tax Update – May 2026
As of May 2026, several key changes have been announced in UK taxation policy:
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Council Tax: Local authorities are implementing substantial increases across most regions.
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Inheritance Tax Relief: New restrictions will apply to reliefs for agricultural and business assets, tightening eligibility criteria.
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Dividend and Savings Tax: Rates are scheduled to rise from April 2027.
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Payroll Reporting: HMRC has deferred the mandatory real‑time reporting of benefits in kind until 2027.
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Making Tax Digital (MTD): Taxpayers filing SA109 forms remain exempt from MTD requirements until April 2027.
These measures reflect HMRC’s phased approach to reform, balancing administrative readiness with fiscal policy adjustments.
Soruce Gove https://www.gov.uk/
Making Tax Digital for Income Tax
When to start using it.
You’ll be required to adopt approved digital record‑keeping software in stages. The timetable applies to individuals who operate as sole traders or earn income from property. Following this schedule will ensure you are fully prepared for Making Tax Digital when it becomes mandatory.
6 April 2026
if your turnover is above £50,000
6 April 2027
if your turnover is above £30,000
6 April 2028
if your turnover is above £20,000
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