Help is closer than you think!

Unfortunately, lots of people are feeling the pinch at the moment. On top of that, job/business losses are currently rising!

Keeping your business and personal finances in check on a regular basis is where I would start. Are those costs really necessary, or are they a luxury that you can do without, at least until things improve?

Pay as little tax as possible, of course legally (goes without saying!), but have you checked if you are recently?

Ok, taking on a good accountant to help may not necessarily be a cheap option for you but getting excellent value for your hard-earned money shouldn't be too difficult.

For more information about the Accountancy services we offer, call 01926 298918 or email info@coopercurtis.co.uk

Please check your tax code

A standard tax code in the UK is 1257L. 

If this is not the code used on your latest payslip, if you do not know why, you need to be finding out. 

You could be left facing a big tax bill at the end of the year!

HMRC can change codes throughout the year. Each time they do, you should be checking these for any errors. Such as too many allowances. Or taxed as a basic rate tax payer when  you pay higher rate tax. 

If you have multiple income streams, is the correct code applied to your main source of income? 

You can check your PAYE tax code and update your tax code through the HMRC App here; https://www.gov.uk/guidance/download-the-hmrc-app

Please note, all our content is for general guideline only, every case is different and we would recommend speaking to us before taking any action as a result of the content. The content was correct at the time it was published

UK Tax Rates 2026/27

1. INCOME TAX (Individuals)

Personal Allowance: £12,570
Marriage Allowance (transferable): £1,260

Tax Bands

Starting rate (savings)

£0–£5,000

0%

Basic rate

Up to £37,700

20%

Higher rate

£37,701–£125,140

40%

Additional rate

Over £125,140

45%

Allowances

• Dividend Allowance: £1,000

• Trading Allowance: £1,000

• Property Allowance: £1,000

• Savings Allowance:

• Basic rate: £1,000

• Higher rate: £500

Trust Rates

• Standard rate band: 20%

• Dividend trust rate: 39.35%

• Other income: 45%

2. NATIONAL INSURANCE

Employees (Class 1)

• 8% (Primary threshold → UEL)

• 2% (Above UEL)

Employers

• 15% (Above secondary threshold)

Self-Employed (Class 4)

• 6% (Main profits band)

• 2% (Above upper profits limit)

3. CORPORATION TAX

Profits Up to £50,000

Rate 19%

Profits £50,001–£250,000

Marginal relief

Over £250,000

Rate 25%

Effective marginal rate: ~26.5%

4. CAPITAL GAINS TAX (CGT)

Annual Exempt Amount (Individuals): £3,000

Basic rate tax payer

18%

Higher/additional

24%

Trust exempt amount: £1,500
Business Asset Disposal Relief: 14%

5. INHERITANCE TAX (IHT)

• Nil Rate Band: £325,000

• Residence NRB: £175,000

• Death rate: 40%

• Lifetime transfers: 20%

• Reduced rate (10% charity): 36%

6. REGISTERED PENSIONS

• Annual Allowance: £60,000

• Minimum Tapered Allowance: £10,000

• Lump Sum Allowance: £268,275
  

7. VAT

• Standard Rate: 20%

• Reduced Rate: 5%

• Registration Threshold: £90,000

• Deregistration: £88,000

• Flat Rate Scheme limit: £150,000
  

8. CAPITAL ALLOWANCES

• Annual Investment Allowance: 100% (up to £1m)

• Main Pool WDA: 18%

• Special Rate Pool WDA: 6%

• First Year Allowance: 100% (qualifying assets)

Please note, all our content is for general guideline only, every case is different and we would recommend speaking to us before taking any action as a result of the content. The content was correct at the time it was published.

Making Tax Digital (MTD) for income tax

In the biggest shift to income tax filing in many years, Making tax digital (MTD) for income tax is now ready for registration on HMRC’s gov.uk website.

Do you work for yourself or receive income from property over £50,000 per tax year?

You are now able to sign up your Self-employment and/or property business for MTD for income tax from the 2026/27 tax year, that's from 6th April 2026.

MTD for income tax is compulsory from April 2026 if you have relevant income of over £50,000.

If this applies to you, you will now have to submit quarterly updates showing your income and expenses through your accounting software.

Looking for help? We can assist you with the bookkeeping, software and filing of quarterly updates to HMRC for your Self-employment or property business to help you stay compliant and avoid fines.

If you are unsure if this will apply to you or would like a free quote, send us a DM or complete our quick form on our website (link in the comments) now and be prepared for the biggest change to income tax filing in 30 years!

Act fast! These changes start from the 6th April 2026!

For a quick quote fill in our simple form. https://www.coopercurtis.co.uk/

Perhaps you;

❓ Are skint or haven't recovered from Xmas spending yet;
❓worried about near and long-term futures;
❓believe your standard of living will keep falling;
❓Are fed up with reading AI generated content - you just want to be entertained.

Where is the positivity?

Well, at least the daffodils are poking through!

Whilst some of our profession might be experiencing negativity such as business closures and unplanned exits.

And yes, we have our share of them too!  Spring entertainment it is not!

But what does the future look like for those still in the game?

After 20+ years helping businesses navigate tough times, I know survival today is the first step toward growth tomorrow.

Are you ready to face reality and take control in 2026?

“DM me to book your free 30-minute confidential Zoom call, where we can start to explore your challenges—no obligation to continue, unless you decide you want to work together with us to help tackle them.''

Alternatively, subscribe here https://bit.ly/4pLNQtj to receive business survival tips to your inbox every 3 weeks.

#businesssurvival #smallbusiness #businesstips #biztips #2026businessgrowth

In a perfect world, and we all know it’s not, what level level of profitability provides you with what you need to;-

📍 Improve your lifestyle?
📍 Build your personal wealth through business profits?
📍 Increase the value of your business?
📍 Release internal funds to invest in the business’ future?

By finding answers to these questions, working together, we can begin to find ways to get what you want from your business by looking at what is important to you!

After 20+ years helping businesses navigate tough times, I know survival today is the first step toward growth tomorrow.

Are you ready to face reality and take control of 2026?

“DM me to book your free 30-minute confidential Zoom call, where we can start to explore your challenges—no obligation to continue, unless you decide you want to work together to tackle them.''

Alternatively, subscribe here https://bit.ly/4pLNQtj to receive business survival tips to your inbox every 3 weeks.

hashtag#businesssurvival hashtag#smallbusiness hashtag#businesstips hashtag#biztips hashtag#2026businessgrow