Accountants in Yardro

Online Self Assessment returns are due by 31 January, along with any balancing payment — and HMRC's £100 penalty applies the moment the deadline passes, even if you owe nothing. Most Yardro clients who come to us in January still file on time; the records just need to arrive before the last week.

The best salary-dividend mix moves with each year's thresholds and your other income. Setting it once in April — rather than guessing through the year — is one of the simplest pieces of planning a director can do.

The capital gains annual exempt amount has shrunk to £3,000, which pulls far more ordinary disposals — shares, crypto, second properties — into reporting territory. Gains that once fell under the allowance now need a return, even when the tax due is modest.

The businesses that struggle with tax bills rarely have a tax problem; they have a timing problem. Knowing the bill in September instead of January — which filing early gives you for free — is the difference between planning and scrambling.

Crypto traders rack up hundreds of taxable events without noticing, because every swap counts as a disposal. Specialist software plus the pooling rules turns the mess into a number; guessing does not.

Plenty of people incorporate too early because it "sounds established", then pay for accounts, confirmation statements and payroll they didn't need. The switch pays for itself at the right profit level — the trick is knowing yours.

Rental profits need reporting once they're more than trivial, and the rules differ for furnished holiday lets, rent-a-room and ordinary lets. Landlords are also in the first wave of Making Tax Digital — property income counts towards the £50,000 threshold.

HMRC receives data directly from online platforms about sellers' income. If a side hustle has grown past the £1,000 trading allowance, coming forward first is always cheaper than being written to — penalties scale with how the disclosure starts.