Personal Tax

Taxpayers who do not receive a self-assessment tax return to complete must notify HMRC by 5 October if they had income or capital gains in the previous tax year on which further tax is due.

Deadline for second payment on account for tax year ended 5 April 2019. Businesses struggling to make their payment as a result of COVID-19 can choose to defer until 31 January 2021.

Residence nil-rate band increases from £150,000 to £175,000.

Start of new tax year.

Capital gains tax annual allowance for individuals increases to £12,300; and to £6,150 for trustees.

National living wage increases from £8.21 to £8.72 an hour for over-25s.