At BIAccountax, we track what HMRC is doing this week , not last spring, not next year. Right now, four tax changes are live and biting UK businesses. If any of these touch you, acting this week could save you hundreds in penalties.
1. ERS penalties just got £300 heavier
Does your company operate an employee share scheme? If you missed the 6 July 2026 annual return deadline, HMRC’s £100 automatic penalty has now grown. A further £300 penalty applies from 6 October 2026. That is because the return is still outstanding three months on. Another £300 follows at six months. In addition, daily £10 penalties can apply from nine months.
The fix is simple. File the outstanding return — or a nil return — now. Do this even if you have received or are appealing the £100 penalty. Filing stops the clock.
2. Company car tax now applies to employee car ownership schemes
The new ECOS rules are now in force. They took effect on 6 October 2026. You must now treat vehicles provided through employee car ownership schemes as company cars through payroll. HMRC estimates around 76,000 employees across 1,900 companies are affected. If your business runs one of these schemes, check your payroll treatment now. Otherwise, getting it wrong means underpaid tax and interest.
3. MTD quarterly update due 7 November
The £50,000-plus Making Tax Digital wave went live in April 2026. Sole traders and landlords in this group face their next quarterly update on 7 November. These are short summaries through compatible software. They are not full tax returns. But late filing builds penalty points once the grace period ends. Therefore, if your records are not digital and up to date, sort them this week.
4. HMRC’s fresh warning: the £30,000 MTD wave is next
This week, HMRC urged sole traders and landlords earning over £30,000 to start preparing now. Around 1,077,000 more taxpayers will join quarterly digital reporting from 6 April 2027. Note that £30,000 means gross turnover before expenses. More people are caught than realise. For this reason, early sign-up gives you time to choose software. It also lets you get used to quarterly reporting before it becomes compulsory.
How BIAccountax Can Help You
ERS returns filed on time, every time. We prepare and submit your Employment Related Securities annual returns before the 6 July deadline. This includes nil returns. We track every registered scheme and handle ceased schemes correctly. The £100 and £300 automatic penalties will never land on your desk.
Payroll and company car compliance. We review your employee car ownership arrangements. We apply the correct company car tax treatment through your payroll. Your PAYE, National Insurance and CIS filings stay accurate and on schedule.
MTD-ready bookkeeping, done for you. We keep your records digital as you go, using HMRC-compatible software. We then handle your quarterly MTD updates and your final declaration. As a result, you stay covered whether you are in the £50,000 wave now or the £30,000 wave from April 2027.
Every deadline tracked. We monitor all your HMRC deadlines in one place. This covers VAT, PAYE, CIS, Corporation Tax and Self Assessment. Nothing slips through the cracks.
Penalty rescue and planning. Already received a penalty? We help you file what is outstanding and advise on appeals where appropriate. We also fix the underlying process so it does not happen again.
If any of the four changes above applies to your business, talk to us this week. Do not wait until after the penalty lands.
Book your FREE consultation: https://biaccountax.com/contact-us
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Disclaimer :
The information shared in this article is for educational and informational purposes only.
While BIAccounTax aims to ensure accuracy by using reliable sources, readers should independently verify details before applying them to personal or business decisions.
BIAccounTax is not responsible for actions taken based on this content. The information is provided solely to enhance readers’ knowledge.
