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The new tax year has officially started on 6 April 2026 — and what you do now can have a real impact on how much tax you pay over the next 12 months.
Most people leave things too late. The smart ones act early.
Here are 7 things you should do today to stay ahead and avoid unnecessary tax.
1. Check Your Tax Code
Your tax code affects how much tax is taken from your salary or pension.
If it’s wrong, you could:
- Be overpaying tax without realising
- Or underpaying and facing a bill later
Log into your HMRC account and review it now — it takes minutes.
2. Use Your New Allowances Early
Your allowances have just reset. Make the most of them from day one:
- £12,570 Personal Allowance
- £1,000 Trading Allowance
- £1,000 Property Allowance
- £20,000 ISA Allowance
Using these early gives you more flexibility throughout the year.
3. Plan Your Salary & Dividends (Directors)
If you run a limited company, now is the time to set your strategy.
With dividend tax rates increasing, getting the balance right between:
- Salary
- Dividends
…can save you thousands over the year.
4. Prepare for Making Tax Digital (MTD)
From April 2026, many individuals earning over £50,000 from self-employment or property will need to follow MTD rules.
That means:
- Keeping digital records
- Submitting quarterly updates
- Using compatible software
Don’t wait until the last minute — get set up now.
5. Review Your Expenses
Start the year with good habits.
Make sure you are tracking:
- Business expenses
- Mileage
- Work-from-home costs
Missing expenses = overpaying tax.
6. Set Up a Tax Savings Pot
If you’re self-employed or a landlord, don’t get caught out.
A simple rule:
Put aside 20–30% of your income into a separate account
This avoids stress when your tax bill is due.
7. Book a Tax Review Early
A quick review now can:
- Identify tax savings opportunities
- Prevent costly mistakes
- Give you a clear plan for the year
Waiting until January is where most people go wrong.
Final Thoughts
The start of the tax year is your biggest opportunity to plan ahead.
Small actions today can save you hundreds — even thousands — later.
If you want help getting everything set up properly from the start, we’re here to help.
📞 Call :0161 710 1901
📩 Email : Tax@TaxesDoneRight.co.uk
Dm Us:
www.taxesdoneright.co.uk
