As 2025 comes to a close it’s time to look ahead to the new year. Here are some key dates for your new diary. And don’t forget we’re here at WNJ to help you with any advice or support you may need in the next 12 months. Please call us on 01772 430000 to discuss any issues raised.

January

January 1:
The new energy price cap will kick in. Most households who pay for energy will see bills their bills rise by 0.2 per cent

January 31:
The online filing date for Self Assessment tax returns for the 2024/25 tax year is midnight – as is any balancing payment

April

April 1:
The National Living Wage (NLW) and National Minimum Wage (NMW) rates announced in November will come into effect.

• NLW (for those aged 21 or over) will increase from £12.21 to £12.71 per hour
• NMW (for those aged 18 – 20) will increase from £10.00 to £10.85 per hour
• NMW (for those aged 16 and 17 and apprentices aged under 19 or in the first year of their apprenticeship) will increase from £7.55 to £8.00 per hour

April 1:
The energy price cap for the second quarter of the year will come into effect covering the period April 1 to June 30.

April 5:
The end of the UK Personal Tax Year (2025/26) and the deadline for ISA/pension allowances.

April 6:
The start of the new tax year (2026/27). Crucially Making Tax Digital (MTD) for Self Assessment begins for sole traders and landlords with an income of more than £50,000. Quarterly returns will have to be made.

Tax rates for dividends increase by 2% to:
Basic Rate Band 10.75%
Higher Rate Band 35.75%
Additional Rate Band 39.35%

The tax-free dividend allowance remains at £500

Business Asset Disposal Relief (BADR) rate increases from 14% to 18%
Inheritance Tax (IHT): The £1 million allowance for 100% Agricultural Property Relief (APR) and Business Property Relief (BPR) will become transferable to a surviving spouse or civil partner, even if the first death occurred before this date.

May

May 31: P60 deadline, Employers must provide P60 forms to all employees who were on payroll on April 5, 2026.

They need to ensure the totals match what was sent via RTI during the year. If providing digital P60s, verify employee access and retain evidence of issue for audit purposes.

July

July 6
Employers must Submit P11D (expenses and benefits) and P11D(b) (declaration for Class 1A National Insurance). Even if you have moved to payrolling benefits, check which items still require reporting. Provide employees with copies so they can keep their personal records current.

July 19-22:
Pay Class 1A National Insurance on benefits for 2025–26 by 19 July (post) or 22 July (electronic). Schedule the payment when you submit P11D(b) to avoid last-minute issues.

July 31:
For those who file a Self Assessment tax return, this is deadline for many people to pay their second payment on account for the 2025/26 tax year.

August

August 7:
If you are involved in Making Tax Digital (MTD) this is the date to submit a quarterly update.

October

October 5:
If you need to register for Self Assessment for the 2025/26 tax year, today is the deadline.
October 31:
The deadline to file a paper Self Assessment tax return for 2025-26.

November

November 7:
It is time to submit another quarterly update, if you are involved in Making Tax Digital (MTD).

December

December 30.
This is the deadline to submit your tax return online.

Other dates and deadlines
For many companies Corporation Tax is due for payment nine months and one day after the end of their accounting period. Set reminders tied to your financial year end and align cash-flow plans accordingly.

VAT returns and payments are usually due one calendar month and seven days after a company’s VAT period ends.

File your Company Tax Return 12 months after your accounting period ends.

File your annual accounts with Companies House nine months after your accounting reference date.

And file a confirmation statement within 14 days of your review period ending

More than 200,000 sole traders and property owners required to move to the new digital tax reporting system from April 2026 will receive a letter from HMRC later this month.

Making Tax Digital (MTD) will apply to self-employed individuals and landlords if their ‘qualifying income’ – combined income from trading and property, measured before expenses – is more than £50,000.

Individuals who had filed their tax return for the year ended 5 April 2025 by 31 August 2025 should receive a MTD mandation letter if their 2024/25 tax return reported qualifying income of more than £50,000.

The letters advise that MTD will apply to the recipient from April 2026, and also contain guidance on how to prepare.

Taxpayers with qualifying income over £50,000, but who file their 2024/25 tax return on or after 1 September 2025 should be sent the same letter in February or March 2026, once the 2024/25 tax return filing deadline has passed.

MTD awareness letters will also be sent during November 2025, according to the trade body The Association of Taxation Technicians.

It says these will go to taxpayers who don’t have agents, and who hadn’t filed their 2024/25 tax return by 31 August 2025, but whose 2023/24 return reported qualifying income close to or above £50,000.

These letters will advise that recipients will need to comply with MTD from April 2026 if their qualifying income in the 2024/25 tax year was more than £50,000, and contain guidance on how to prepare.

They should then receive the mandation letter referred to above after 31 January 2026 if they need to comply with MTD from April 2026.

Receipt of either letter does not mean the taxpayer has been registered for MTD – registration remains the responsibility of the taxpayer or, by agreement, their agent.

• To discuss any issues raised by this article or any tax matters, please contact me on 01772 430000

Just over four in ten businesses have reported experiencing a cyber security breach or attack in the last 12 months.

That equates to around 612,000 UK businesses and 61,000 charities, according to official UK figures.

Phishing attacks remain the most prevalent and disruptive type of breach or attack – experienced by 85 per cent of businesses.

Businesses say these types of attacks are time-consuming to address because of their volume and the need for investigation and staff training.

By harnessing artificial intelligence, scammers can create highly convincing emails and messages that trick employees into revealing sensitive information or transferring funds.

With only five simple prompts information technology giant IBM was able to trick a generative AI model into developing highly convincing phishing emails in just five minutes.

Here are some key pieces of advice from IBM to help businesses stay prepared:

• When in doubt, call the sender: If you’re questioning whether an email is legitimate, pick up the phone and verify.
• Abandon the grammar stereotype: Dispel the myth that phishing emails are riddled with bad grammar and spelling errors. AI-driven phishing attempts are increasingly sophisticated, often demonstrating grammatical correctness. That’s why it’s imperative to re-educate employees and emphasise that grammatical errors are no longer the primary red flag. Instead, train them to be vigilant about the length and complexity of email content. Longer emails, often a hallmark of AI-generated text, can be a warning sign.
• Strengthen identity and access management controls: Advanced identity access management systems can help validate who is accessing what data, whether they have the appropriate entitlements and that they are who they say they are.
• Constantly adapt and innovate: The rapid evolution of AI means that cyber criminals will continue to refine their tactics. Businesses must adopt that same mindset of continuous adaptation and innovation. Regularly updating internal TTPS (Tactics, techniques, and procedures), threat detection systems and employee training materials is essential to stay one step ahead.

Staff awareness is the first line of defence against phishing AI. Regular training will help employees recognise AI-driven scams, understand the risks, and respond appropriately. Multi-layered security.

That multi-layered security, including firewalls, antivirus software, email filters, and intrusion detection systems, will provide comprehensive protection against AI threats and other cyber security risks.

The Valuation Office Agency (VOA) is currently updating the values it holds for more than two million business and other non-domestic properties across England and Wales.

These values are used to calculate business rates bills. The future values come into effect in April 2026, but there are actions you can take now to be prepared.

If you own a property that might be liable to pay business rates – here is everything you need to know about the 2026 Revaluation.

What is a revaluation?

The VOA updates the rateable values of non-domestic properties in England and Wales every three years.
Rateable values are the amount of rent a property could have been let for on a set valuation date. For the 2026 revaluation, that date is April 1, 2024.
Rateable values are used by local councils to calculate business rate bills. Using this value as a basis, local councils will apply a standard percentage or ‘multiplier’ and details of any reliefs and discounts to give the amount to be paid.
Revaluations make sure that these bills are based on up-to-date information. A change in your rateable value does not always mean a change in your bill.

How can I access information about my business rates valuation?

You can view your property’s current rateable value through the Find a Business Rates Valuation service on GOV.UK.
If you want to see more details about your current valuation, check the details held on your property or request a change, you will need a business rates valuation account.
Future rateable values for non-domestic properties, that come into effect on April 1, 2026, will be published before December 31, 2025.
Once published, you will be able to see details about these valuations on your Business Rates Valuation Account, or through the ‘Find a Business Rates Valuation’ Service on GOV.UK.

What to do if you think your valuation is wrong?

If you believe your current valuation isn’t correct, you can ask the VOA to review it through your Business Rates Valuation Account.

First, you’ll need to complete a ‘Check’. This will allow you to correct or confirm factual details about the property.

If this doesn’t result in a change to your rateable value, you can decide to progress to a ‘Challenge’. You’ll need to provide evidence to support your case. There’s more information about this on the GOV.UK website.

It’s important to note that your rateable value can go up as well as down as part of this process.

You have from now until March 31, 2026 to contact the VOA about your current rateable value. You can contact the VOA about your new rateable value from April 1, 2026.

How does the VOA value a property?

It uses one of three methods, depending on the type of evidence available:
• In most cases, it analyses the rental market to understand what an appropriate value might be. This includes for shops and offices.
• Where there is little or no rental evidence available and the property’s main purpose is to make a profit, the VOA looks at any trading information to estimate a reasonable rent. This includes properties like large hotels and cinemas.
• For some specialist properties, like hospitals, it may also look at the yearly cost of a replacement property.

A rateable value for a property may not be the same as the actual rent paid for the property.

• To discuss any issues raised by this article please contact me on 01772 430000

Just one in six landlords say they are fully prepared for the Renters’ Rights Bill, just months away from the legislation going live.

More than a third have either not heard of it or don’t know what it means for them, according to a new survey of 1,000 property investors.

Another 16 per cent have heard of it, but know very little about it, with 32 per cent saying they have a general understanding but still have questions.

The bill is entering its final stages in the Commons and is widely expected to be passed into law before the end of this month.

The changes in it are wide-ranging for landlords. It has been described as the biggest shake up to the private rented sector in more than 30 years.

The measures contained in the bill, include the abolition of Section 21 ‘no-fault’ evictions, a shift to open-ended periodic tenancies, and stronger Section 8 grounds for possession.

There will be limits on rent increases to once a year through a Section 13 notice, an end to rent bidding wars, a ban on asking more than one month’s rent upfront, plus new rights for tenants to request pets and protection from discrimination.

The government says that the bill will improve the current system for both the 11 million private renters and 2.3 million landlords in England. It says: “It will give renters much greater security and stability.”

The National Residential Landlords Association (NLRA) is advising its members to get ready for the changes.

That advice includes reviewing their portfolio, inspecting their properties and addressing any potential hazards.

It also says landlords should look at their processes around tenant referencing, advertising and logging complaints and issues.

And, if you use an agent to let or manage your properties, check they are ready for the changes.