As we move into the new tax year, April brings a range of important updates and deadlines that
businesses and individuals should be aware of.
From upcoming changes to the reporting of Benefits in Kind (BiKs) and the continued freeze on tax allowances, to
developments in Making Tax Digital (MTD) for Income Tax, this month’s newsletter highlights key areas that may impact
on your financial planning and compliance obligations.
We also cover a recent issue affecting Companies House systems and what it means for business security, along with a
handy tax diary to help you stay on track with important filing and payment dates over the coming weeks.
If you have any questions about how these changes affect you, or would like tailored advice, please do not hesitate to Contact Us
Changes to reporting of BiKs
Mandatory payrolling of benefits in kind (BiKs) and taxable employment expenses will be introduced
from 6 April 2027. This represents a major change in reporting and means that for most benefits,
the annual P11D form will no longer be required from the start of the 2027-28 tax year.
The requirement to report Income Tax and Class 1A National Insurance on most BiKs through Real Time Information
(RTI) was originally due to start on 6 April 2026 but has been delayed until 6 April 2027 to allow additional time for
employers, payroll professionals, software providers and agents to prepare.
The deadline to register for the current voluntary payrolling service for the 2026-27 tax year is 5 April 2026. After this,
the service will close in preparation for the introduction of mandatory payrolling.
From April 2027, employers will report BiKs and expenses via the Full Payment Submission (FPS), aligning reporting with
the process currently used for reporting salaries. The number of RTI fields will be expanded to reflect the data currently
captured through P11D and P11D(b) forms.
To support implementation, HMRC will waive penalties for inaccuracies related to mandatory payrolling for 2027-28,
provided there is no evidence of deliberate non-compliance. However, existing late filing and payment penalties will
continue to apply
Tax allowances frozen for 2026–27
It was confirmed as part of the Autumn Budget that Income Tax thresholds will continue at
their current levels for a further three years, extending the freeze until April 2031. This means
most tax allowances will remain frozen for 2026–27 and beyond.
As a result, the personal allowance will remain at £12,570 and the higher rate threshold will stay at £50,270 for most
UK taxpayers.
Keeping these thresholds unchanged means many taxpayers will gradually pay more tax as their earnings increase over
time. This effect, known as fiscal drag, happens when wages rise but tax bands do not.
Companies House blunder
A Companies House issue has raised concerns after a flaw in the WebFiling service briefly
exposed sensitive company data.
The issue, identified on 13 March 2026, meant that a logged in user could potentially access limited details of another
company through a specific sequence of actions.
In practical terms, the continued freeze is likely to push more taxpayers into the higher rate tax band. Others who
previously earned below the personal allowance may also begin paying Income Tax for the first time.
Although tax rates themselves remain unchanged, the overall tax burden can increase as more income becomes taxable.
It confirmed that passwords and identity verification data were not compromised.
Companies are now being urged to review their registered details and filing history carefully. While no confirmed misuse
has been reported, Companies House continues to investigate.
Companies House shut down the WebFiling service to investigate and later restored it following independent testing.
From our Knowledge Hub
Making Tax Digital – Are You Ready?
With Making Tax Digital approaching, now is the time for self-employed individuals and landlords to
understand how the changes may affect them. The new system will require digital record keeping and
quarterly updates. Preparing early can help ensure a smoother transition and avoid unnecessary disruption.
Full article here
Starting a New Business
Starting a new business brings exciting opportunities but also important financial decisions.
From choosing the right structure to understanding tax obligations and managing cash flow, getting the
right advice early can make a significant difference. We regularly support start-ups and growing
businesses with practical advice, helping them build strong financial foundations from day one.
Full article here
Life at The MGroup and in the Community
Supporting Oxford City FC and the Hoops Foundation
April started with a fantastic day at the Oxford City Football Club Golf Day at Southfield Golf Course, where members of The MGroup team enjoyed a great day of golf, networking and plenty of laughs. It is always a pleasure to support club events and spend time with the wider business community. Events like these also help raise awareness for the Hoops Foundation, which continues to do excellent work supporting local initiatives and community programmes. Days like this highlight the important role that local sport plays in bringing businesses and communities together, something we are
always proud to be part of.
Click here to find our more about the Hoops Foundation
Oxfordshire Business Community
It’s been a rewarding rewarding month spent in the Oxfordshire business community. From the Inspire Lunch at The Complete Angler with the Thames Valley Chamber of Commerce, to Opendoorz events and gatherings at Oxfordshire Golf Club, it’s been a great period of genuine connection.
Engaging with businesses of all sizes gives us the chance to listen, understand local challenges and share experiences.
These conversations deepen our understanding of what matters to the organisations we meet and strengthen the
relationships that sit at the heart of our work.
It’s been a positive month full of meaningful discussions, familiar faces and new connections and we look forward to
continuing to play an active role in the wider community.
Oxford City FC Update
It has been a strong month for Oxford City FC, with the team showing real momentum throughout
March. Across five fixtures, City delivered three wins, one draw and just one loss, leaving them unbeaten
in their last three matches and building positive momentum heading into April.
As stadium sponsors, The MGroup is proud to support the club both on and off the pitch. It is great to see the hard work,
commitment and resilience paying off in recent performances. Here’s to carrying this positive form forward!
Tax Diary April / May 2026
1 April 2026 – Due date for corporation tax due for the year
ended 30 June 2025.
19 April 2026 – PAYE and NIC deductions due for month
ended 5 April 2026.
19 April 2026 – Filing deadline for the CIS300
monthly return.
19 April 2026 – CIS tax deducted payable by today.
30 April 2026 – 2024-25 tax returns filed after this date will
be subject to an additional £10 per day late filing penalty
1 May 2026 – Due date for corporation tax due for the
year ended 30 July 2025.
19 May 2026 – PAYE and NIC deductions due for month
ended 5 May 2026.
19 May 2026 – Filing deadline for the CIS300
monthly return.
19 May 2026 – CIS tax deducted payable by today.
31 May 2026 – Ensure all employees have been given
their P60s for the 2025/26 tax year
Looking ahead
As we move further into the new tax year, staying informed
and planning ahead continues to be important for both
individuals and businesses.
If you would like to discuss any of the topics covered, or talk through your
plans for the year ahead, our team is always happy to help.
Contact us here