Mirandus Accountants is an expert accounting and chartered tax advisory practice based in London and Edinburgh. We specialise in meeting the needs of private clients and their businesses.
Visit our Mirandus Wealth site for your financial planning. If you have pension, investment, protection or mortgage needs, we can help.
Aimed at individuals in Self Assessment with self-employment income, property income, or both
Where ‘qualifying’ income is above the relevant threshold i.e. self employment income, landlord income
Directors of limited companies are out scope
Partnerships and Limited Partnerships are currently out of scope, but this will change in the future
Keep digital records using compatible software. You can keep a spreadsheet, but you need to use software to submit quarterly returns and your year-end return, and you cannot submit via the HMRC portal.
You will need to send quarterly updates during the tax year
You still need to submit a final declaration - similar to your current annual tax return
Qualifying income over £50,000 in 2024/25 tax return must join from 6 April 2026
Qualifying income over £30,000 in 2025/26 tax return must join from 6 April 2027
Qualifying income over £20,000 in 2026/27 tax return must join from 6 April 2028
Quarter 1: April to June reporting period, submission date 7th August
Quarter 2: July to September reporting period, submission date 7th November
Quarter 3: October to December reporting period, submission date 7th February
Quarter 4: January to March reporting period, submission date 7th May
Final declaration - similar to your annual tax return - due the following 31 January (no change)
Free no obligation quote for your small business, helping you work compliantly and tax efficiently.
