01 / FIVE-STEP CHECKLIST

What to check in your records.

Use these existing tax dates and thresholds to organise the year ahead.

  1. Prepare for the 31 January deadline.Review the online return, balancing payment and, if it applies to you, the first payment on account due by 31 January 2027.
  2. Note the MTD quarterly update dates.If you use Making Tax Digital for Income Tax, keep the 7 November 2026 and 7 February 2027 quarterly update dates in view.
  3. Review the trading allowance against expenses.The £1,000 trading allowance can be compared with actual expenses, but you cannot use both for the same trade.
  4. Check business mileage by tax year.The simplified mileage rates shown on this site are 45p per mile for the first 10,000 car or van miles in 2025/26, and 55p for the first 10,000 from 6 April 2026.
  5. Keep an eye on rolling taxable turnover.The VAT registration threshold is £90,000 of taxable turnover over a rolling 12-month period.
02 / USE THE FREE CALCULATORS

Check your numbers.

Free tax calculator Mileage calculator Trading allowance checker
KEEP YOUR RECORDS TOGETHER

Browse the tax spreadsheets.

Visit the SoleTraderSheetsUK Etsy shop.

Visit the Etsy shop

Not tax advice. Not affiliated with, or endorsed by, HMRC.