As we move through the early months of the year, now is a good time to stay ahead of upcoming tax deadlines and prepare for several important changes on the horizon. With February and March bringing a number of key compliance dates, along with new rules and reforms scheduled over the coming year, keeping informed and planning ahead can help you avoid penalties and make confident financial decisions.
In this edition, we highlight the latest tax diary deadlines, outline what the introduction of Making Tax Digital for Income Tax will mean in practice, and explain recent updates to Agricultural and Business Property Relief. We also cover important considerations around Capital Gains Tax when selling property and the latest changes to the Construction Industry Scheme.
We hope you find this month’s update helpful and informative. If you would like to discuss how any of these developments affect you or your business, please don’t hesitate to get in touch – we’re always here to help.
Are you ready for Making Tax Digital for Income Tax (MTD for IT)? This new way of reporting will become mandatory in phases from April 2026. If you are self-employed or a landlord earning over £50,000, now is the time to prepare for digital record keeping, quarterly updates and the new penalty system that will apply under MTD for IT.
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The government recently announced significant changes to the planned reforms to Agricultural Property Relief (APR) and Business Property Relief (BPR).
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CGT on certain UK residential property sales often has a strict 60-day reporting and payment deadline, so early planning can avoid penalties.
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Tackling fraud in the Construction Industry Scheme (CIS) was one of the measures addressed in the recent Budget. The changes are intended to allow faster intervention where fraud is suspected, while also simplifying certain administrative aspects of the CIS.
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Tax Diary February/March 2026
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Kind regards,
Elan & Co
