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With the first signs of spring comes expectation of the new tax year and changes across the tax spectrum. The announcement that sparked protests from farmers following its initial proposal in the Autumn 2024 Budget has since been amended and finally comes into force in April: a £2.5 million cap on 100% inheritance tax agricultural and business relief. This approach to taxation – delaying the implementation of significant tax changes – has been embraced by this and previous governments keen to stagger the impact of unpopular tax measures by postponing their enactment. Our feature highlights the major tax changes coming in from 2026/27, including another longanticipated addition to the Making Tax Digital (MTD) programme – income tax for selfassessment. Those affected by the MTD tax reporting requirements and employed higher earners should also review their tax relief entitlements, as HMRC may owe you money through tax coding errors and unpaid pension tax relief. As the new ISA season kicks off, we also emphasise the need to check in on your range of holdings to make sure they are still working for you.
