The current tax year ends on 5th April 2026 — and there are just a few weeks left. Once that date passes, many tax-saving opportunities are gone for good. Here are five things you should do right now.

1. Use Your Personal Allowance

The personal allowance for 2025/26 is £12,570. If you haven’t earned this amount yet — or if a spouse or partner hasn’t — it may be worth looking at how income is structured before 5th April. Unused personal allowance cannot be carried forward.

2. Pay Yourself the Right Dividend (Limited Company Directors)

If you run a limited company, the dividend allowance is £500 for 2025/26. If your company has profits available, review whether you’ve drawn the most tax-efficient amount before the year ends. Taking too much or too little could cost you.

3. Make a Pension Contribution

Pension contributions are one of the most powerful ways to reduce your tax bill. You can contribute up to £60,000 per year and get full tax relief. Contributions made before 5th April count for this tax year. Limited companies can also make employer pension contributions directly — saving corporation tax too.

4. Check Your Annual Investment Allowance

If you’re thinking of buying equipment, vehicles, or machinery for your business — do it before 5th April to get the tax relief this year. The Annual Investment Allowance is £1 million, meaning most small businesses can write off 100% of qualifying asset purchases against profit.

5. Review Your Business Structure

Are you still a sole trader? Now is a good time to review whether operating as a limited company could save you money. In many cases, incorporating can save thousands per year through a combination of salary and dividends.

Need Help Before 5th April?

At MBSC Accountancy & Consultancy Ltd, we offer tax planning consultations to help you make the most of the remaining weeks. We serve small businesses and self-employed individuals across Surrey and the UK.

 Making Tax Digital Income Tax April 2026

Making Tax Digital for Income Tax starts April 2026 for sole traders and landlords earning over £50,000. Find out what you need to do now — and how MBSC can help.

If you’re a sole trader or landlord earning over £50,000 a year, Making Tax Digital for Income Tax (MTD for ITSA) is coming — and it starts in just weeks, from 6th April 2026.

This is one of the biggest changes to the UK tax system in years, and many business owners are still not ready. Here’s exactly what it means and what you need to do right now.

What Is Making Tax Digital for Income Tax?

Making Tax Digital for Income Tax Self Assessment (MTD for ITSA) is HMRC’s programme to move tax reporting fully digital. Instead of filing one Self Assessment return per year, you will need to keep digital records of all income and expenses, submit quarterly updates to HMRC through approved software, file an End of Period Statement at the end of the tax year, and submit a final declaration replacing your current Self Assessment return. That means five submissions per year instead of one.

Who Is Affected From April 2026?

The April 2026 deadline applies to sole traders and landlords with gross income over £50,000 from self-employment or property — or a combination of both. From April 2027, the threshold drops to £30,000, bringing in many more businesses.

What Software Do You Need?

You must use HMRC-recognised software. Popular options include QuickBooks, Xero, FreeAgent, and Sage. Spreadsheets on their own will not be accepted unless you use compatible bridging software.

What Do You Need to Do Right Now?

Check if you’re affected by looking at your 2024/25 income figures. Choose your software and set it up before April. Start keeping digital records from 6th April 2026 at the latest. And speak to your accountant — we can help you choose the right software and set everything up.

How MBSC Can Help

At MBSC Accountancy & Consultancy Ltd, we are helping all our clients get MTD-ready before April. We can advise on the right software for your business, help you set it up, and manage your quarterly submissions on your behalf. Don’t leave it until the last minute