Tax Tips and News May 2026

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courtsaccountants.co.uk

20/05/2026

Tax Tips and News – May 2026

Welcome to the Courts Accountancy Services monthly newsletter, bringing you the latest tax tips and news to keep you one step ahead of the taxman.

We’re committed to ensuring none of our clients pay a penny more in tax than is necessary and that they receive useful tax and business advice and support throughout the year.

We thought you might like to have a read of this insightful article from Terri Hall at Continuum Why acting early in the new tax year matters

If you need further assistance regarding anything in this newsletter, please give us a call or drop us an email and we’ll be happy to discuss with you.`

Also, if you require advice on your own specific circumstances, feel free to give us a call, after all we are here to help!

Making Tax Digital (MTD) for Income Tax - deadline reminders

From April 2026, MTD for Income Tax came into force for sole traders and landlords who had gross income over £50,000 in the previous tax year. Read More...

HMRC rejects almost half of Making Tax Digital exemptions

At the time of its request, a Freedom of Information request has shown that HMRC rejected 47% of applications for exemption from the MTD for Income Tax scheme. Read More...

Pensions to be included in IHT calculations from April 2027

From April 2027, unused defined contribution (DC) pensions will be counted as part of a person's estate for inheritance tax (IHT). Read More...

Drop in tax relief on VCTs may affect economic growth

The Chancellor reduced income tax relief on Venture Capital Trusts (VCTs) from 30% to 20%, effective 6 April 2026. Read More...

June Questions and Answers

Q: I retired last year but have since taken on a part-time job. My defined benefit pension uses up my Personal Allowance, so how much tax will I have to pay? Read More...

June Key Dates

1st: Corporation Tax payments are due for companies with a year-end of 31st August. Read More...

About Us

Courts Accountancy Services Accountants are based in Buckingham, offering local business owners and individuals a wide range of services. All clients are entitled to fixed fees, work delivered on time and unlimited phone support. Visit our website courtsaccountants.co.uk for more information.

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Courts Accountancy Services is a trading name of Courts Accountancy Services Limited