As we approach the end of the tax year on 5 April, it’s easy to overlook the importance of wrapping things up properly. But don’t be fooled—it’s more than just a deadline for accountants. The end of the tax year is an opportunity for small business owners to take stock, tidy up their finances, and make moves that can help reduce tax liabilities or set you up for a smoother year ahead.

Here’s what the end of the tax year really means for your business—and what you can do now to make the process as painless as possible.

Profit and cash flow aren’t the same — and confusing the two can cause big problems for small UK businesses. Here’s what you need to know and how to stay on top of both.

Many of us have taken up a side hustle to earn extra cash—selling handmade items, freelancing, or doing deliveries. But it’s important to understand that even this additional income may be subject to tax.

The UK government is introducing Making Tax Digital (MTD) for Income Tax and Self Assessment (ITSA) to modernise the tax system. Starting from April 2026, sole traders, the self employed and landlords earning over £50,000 will need to keep digital tax records and submit updates every three months instead of annually.

In the UK, you must register for VAT if your taxable turnover exceeds £90,000 over a 12-month period or if you expect to exceed that amount in the next 30 days.

The UK is ending the special tax regime for Furnished Holiday Lettings (FHL) from April 2025.