The UK tax year runs from 6 April to 5 April, so the 2026/27 year ends on 5 April 2027. Many people only think about tax in January, when it is too late to change what happened in the year. Here are ten things worth doing now. This is general information, so check GOV.UK and ask an accountant about your own situation.
1. Get your records up to date
Import your bank statements, record missing invoices and bills, and reconcile every month so far this year. See our month-end checklist.
2. Find the missing receipts
It is far easier to track down a receipt in November than in January. See our guide to receipt management.
3. Review your expenses
Check you have claimed everything that is allowable, and nothing that is not. Use our allowable expenses guide and the cheat sheet.
4. Think about equipment you need
Equipment such as a laptop or machinery is normally claimed through capital allowances, and the timing of the purchase can matter. Buying something you genuinely need before 5 April may bring the claim into this tax year. Do not buy something just for the tax relief: you still spend the money.
5. Check your home-working and mileage claims
Decide whether the simplified flat rates or actual costs work better, and make sure your mileage log is complete.
6. Chase what you are owed
Overdue invoices are not cash. Follow up with the templates in our late-payment guide, and review which debts might not be collectable.
7. Look at pension contributions
Pension contributions can reduce your tax bill, but the rules and limits are specific. Ask an accountant or financial adviser before you pay in.
8. Check your VAT position
If your turnover is close to the registration threshold, plan ahead. See the VAT registration guide.
9. Review your payments on account
If your profit has fallen this year, you may be able to ask HMRC to reduce your next payment on account. If it has risen, make sure you are setting enough aside. Use the tax calculator for an estimate.
10. Get ready for Making Tax Digital
If your qualifying income was above £30,000 in 2025/26, you are in the April 2027 group. Move your records into software now. See what changes in April 2027.
Put dates in your diary
- 31 January 2027: Self Assessment for 2025/26 and the first payment on account for 2026/27.
- 5 April 2027: the tax year ends.
- 6 April 2027: the new tax year, and the next Making Tax Digital wave.
How AvrioBooks helps
Run a profit and loss for the year so far, export it, and review it with your accountant. See AvrioBooks for sole traders.
Frequently asked questions
When does the 2026/27 tax year end?
On 5 April 2027. The new tax year starts on 6 April 2027.
Should I buy equipment before 5 April to save tax?
Only if you genuinely need it. Equipment is normally claimed through capital allowances, but you still spend the money, so do not buy just for the relief.
Can I reduce my payments on account?
If you expect lower profit, you may be able to ask HMRC to reduce them. Check GOV.UK or ask your accountant.
What should I do about Making Tax Digital?
If your qualifying income was above £30,000 in 2025/26, you are in the April 2027 group, so move your records into software now.
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