United Kingdom

Key points

• Self Assessment: online tax returns are generally due by 31 January after the end of the tax year (paper returns by 31 October), with any balance of tax payable by 31 January.
• For 2026 to 2027 the standard Personal Allowance is £12,570; income tax is 20%, 40% and 45% in England, Wales and Northern Ireland. Scotland sets its own income tax bands.
• Corporation Tax: main rate 25%, small profits rate 19% for profits up to £50,000, with marginal relief in between. The return is due 12 months after the accounting period ends; tax is usually payable 9 months and 1 day after.
• VAT: standard rate 20%. Registration is required when taxable turnover exceeds £90,000 in 12 months. VAT-registered businesses must keep digital records and file through Making Tax Digital (MTD) software.
• Making Tax Digital for Income Tax applies from 6 April 2026 to sole traders and landlords with qualifying income over £50,000, falling to £30,000 from April 2027.
• Employers run PAYE and report payroll to HMRC in real time; employees pay Class 1 National Insurance at 8% and 2%.
• Companies House: companies file a confirmation statement every year and annual accounts (generally within 9 months of year end for private companies).
• Non-resident landlords: under the Non-Resident Landlord Scheme, letting agents or tenants deduct basic rate tax from UK rent unless HMRC approves receiving rent without deduction.

Sources: GOV.UK / HMRC guidance (Income Tax rates, National Insurance rates 2026 to 2027, Rates and thresholds for employers 2026 to 2027, VAT registration, Making Tax Digital), Companies House. Reviewed November 2026.