As we move into a new year, we’d like to wish all our clients at Accountants247 a very happy and successful year ahead. A new year is an ideal time to pause, reflect on the past 12 months and plan confidently for what’s to come.
For small and medium-sized businesses, the year ahead brings fresh opportunities but also a number of financial, tax and compliance matters to keep firmly on your radar. Below, we’ve outlined some of the key things to look out for in 2026, along with important dates to remember.
Key Things to Watch This Year
1. Continued Pressure on Costs
Many businesses will continue to feel pressure from:
- Rising staffing and wage costs
- Increased supplier prices
- Ongoing energy and overhead costs
This makes cashflow forecasting, pricing reviews and margin management more important than ever. Early planning can help prevent problems later in the year.
2. Increased Focus from HMRC
HMRC continues to invest heavily in compliance activity. We are seeing:
- More enquiries into VAT returns
- Greater scrutiny of expense claims
- Increased checks on payroll, benefits and dividends
Keeping accurate, up-to-date records – and addressing issues early – is key to avoiding penalties and stress.
3. Making the Most of Allowances and Reliefs
The start of the year is a good time to think about:
- Capital expenditure and investment plans
- Pension contributions
- Director remuneration strategies
- Timing of dividends or drawings
Proactive tax planning throughout the year often results in better outcomes than last-minute decisions.
4. Budgeting and Goal-Setting
If you haven’t already, now is the time to:
- Set a realistic budget for the year
- Review pricing and profitability
- Plan for quieter periods
- Align financial targets with business goals
A clear financial roadmap can support growth and reduce uncertainty.
Key Tax Dates to Remember in 2026
Here are some of the main deadlines that business owners should diarise:
- 31 January
- Self Assessment tax return deadline
- Balancing payment for the previous tax year
- First payment on account (if applicable)
- 31 July
- Second payment on account for Self Assessment
- VAT Returns
- Usually due one month and 7 days after the end of each VAT quarter
- Payroll (RTI submissions)
- On or before each payday
- PAYE and NIC payments usually due by the 22nd of each month (if paying electronically)
- Corporation Tax
- Payment due 9 months and 1 day after your accounting period ends
- Company accounts and CT600 due 12 months after the period end
Missing deadlines can result in penalties and interest — so forward planning is essential.
Looking Ahead with Confidence
The start of a new year is the perfect opportunity to get organised, review your finances and put the right systems in place. Whether it’s improving bookkeeping, planning for tax efficiency or reviewing cashflow and growth plans, early action can make the year ahead far smoother.
We’re Here to Support You This Year
If you’d like help with budgeting, tax planning, compliance or simply want to check you’re on the right track, our friendly Accountants247 team is here to help.
Please don’t hesitate to get in touch here we look forward to supporting you throughout the year ahead.
