Marco lives in London. His life is (mostly) in sterling: PAYE, a UK mortgage, a school run, a Pret habit he refuses to quantify. But three times a year, his finances “speak” in other accents:

As the digital economy continues to grow at an unprecedented rate, regulatory bodies are stepping up efforts to ensure tax compliance across borders.

The UK tax system is undergoing a notable shift with HMRC's latest announcement: the income tax self assessment (ITSA) reporting threshold for trading income will increase from £1,000 to £3,000 within this parliament.

On 1 January, the UK doesn’t just start a new calendar year. It starts a tax sprint. For some, January is the month you finally “close the file” on the 2024/25 tax year (ended 5 April 2025). For others, it’s a routine cadence: payroll, CIS, VAT. For limited companies, January can also be the month where an old accounting period catches up with a filing deadline.

On 5 January 2026, HMRC said 5.65 million people still needed to file their Self Assessment return for 2024/25, with the clock ticking towards 31 January 2026 (23:59). That number isn't just a stat - it's the reason the ...