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

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    Frequently Asked Questions

    What does 1257L mean?

    1257L is the most common tax code. 1257 means a personal allowance of £12,570 (1,257 × 10). L means you’re entitled to the standard tax-free personal allowance.

    What should I do if I have a W1 or M1 code?

    W1/M1 (or X) codes mean tax is calculated on a non-cumulative basis. This often results in paying too much or too little tax. Contact HMRC to correct it, especially after a job change or if you haven’t worked for part of the year.