Live Updates
MTD for ITSA: Mandation for businesses and landlords with income over £50,000 begins April 2026.
MTD for ITSA: Mandation for income over £30,000 begins April 2027.
FHL Abolition: The Furnished Holiday Lettings tax regime is officially abolished as of April 2025.
Non-Dom Reform: The remittance basis is replaced by a new 4-year foreign income and gains (FIG) regime.
Basis Period Reform: Full transition to the "tax year basis" for all unincorporated businesses is now in effect.
SDLT: Temporary Stamp Duty thresholds are set to revert to previous levels from April 2025.
Dividend Allowance: The tax-free dividend allowance remains at £500 for the current year.
Capital Gains: The Annual Exempt Amount is fixed at £3,000 for individuals and personal representatives.
MTD for ITSA: Mandation for businesses and landlords with income over £50,000 begins April 2026.
FHL Abolition: The Furnished Holiday Lettings tax regime is officially abolished as of April 2025.

2026/27 TAX YEAR IS HERE MTD FOR INCOME TAX NOW MANDATORY FOR LANDLORDS & SELF-EMPLOYED OVER £50K DIVIDEND TAX RATES INCREASED TO 10.75% & 35.75% — OPTIMISE YOUR PAYOUTS ADVANCED CALCULATORS FOR PROPERTY, CRYPTO, AND INHERITANCE TAX HERE

Estimated calculation • • uktaxhero.com
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Important: Illustrative estimates based on HMRC published rates. Actual liabilities vary. Find a Tax Expert →
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📜 Penalty Details

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How This Calculator Works

⏱ Days Late

Calculates from a due date or days late input to show how penalties escalate over time.

📋 All Penalty Types

Covers Self Assessment filing and payment penalties, VAT penalties and PAYE late payment charges.

💰 HMRC Interest

Includes estimated HMRC late payment interest at the current rate (Bank Rate + 2.5%).

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Frequently Asked Questions

What are the Self Assessment filing penalties?

Day 1 late: £100. 3 months late: £10/day for up to 90 days. 6 months late: £300 or 5% of tax (whichever higher). 12 months late: a further £300 or 5%.

Can HMRC penalties be appealed?

Yes. HMRC can cancel penalties if you have a "reasonable excuse" (e.g. serious illness, bereavement, postal failure). Disagree with a penalty using SA370 or by calling HMRC. Professional help significantly improves appeal success rates.