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20/05/2026

June Tax Tips & News

Welcome to the Hammond McNulty Tax Tips & News monthly newsletter, bringing you the latest news to keep you one step ahead of the taxman.

If you need further assistance just let us know or send us a question for our Question and Answer Section.

We’re committed to ensuring none of our clients pay a penny more in tax than is necessary and they receive useful tax and business advice and support throughout the year.

Please contact us for advice on your own specific circumstances. We’re here to help!

Making Tax Digital (MTD) for Income Tax - deadline reminders

From April 2026, MTD for Income Tax came into force for sole traders and landlords who had gross income over £50,000 in the previous tax year. Read More...

HMRC rejects almost half of Making Tax Digital exemptions

At the time of its request, a Freedom of Information request has shown that HMRC rejected 47% of applications for exemption from the MTD for Income Tax scheme. Read More...

Pensions to be included in IHT calculations from April 2027

From April 2027, unused defined contribution (DC) pensions will be counted as part of a person's estate for inheritance tax (IHT). Read More...

Drop in tax relief on VCTs may affect economic growth

The Chancellor reduced income tax relief on Venture Capital Trusts (VCTs) from 30% to 20%, effective 6 April 2026. Read More...

June Questions and Answers

Q: I retired last year but have since taken on a part-time job. My defined benefit pension uses up my Personal Allowance, so how much tax will I have to pay? Read More...

June Key Dates

1st: Corporation Tax payments are due for companies with a year-end of 31st August. Read More...

About Us

Hammond McNulty Accountants are based in Cheshire, offering local business owners and individuals a wide range of services.

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Hammond McNulty is a trading name of Hammond McNulty LLP