03. 02

 Preparing Your Business for the 2026/27 Financial Year

 Key Tax Changes for UK Businesses in 2026
As this financial year enters its last few months, it is important to ensure your business is prepared. Staying on top of deadlines, reporting requirements, and business efficiencies will allow you to maximise profits going into 2026/27.

At Fiander ETL, we can help you and your business to start the new financial year strong. We’ve gathered our top tips to end this current financial year stress-free and begin the next in the best possible way.
Your Key Payments Prior to This Financial Year Ending
Before this current financial year ends, there are several payments you must ensure your business has completed to stay compliant with HMRC and avoid any costly penalties.
  • File a Company Tax Return (CT600) and pay Corporation Tax; these are usually paid 9 and 12 months after the end of the previous financial year. 
  • Annual accounts must also have been filed; for private limited companies, this is 9 months after the previous financial year has ended. 
  • Your final payroll report must be completed after the last payment of the financial year. 
  • Final VAT payment is due 1 month and 7 days after the financial year ends.  
Separately, if you are a sole trader, partner, or director of a business, you must submit your personal tax Self Assessment by 31 January to avoid being charged a late fee.
Get Ahead and Stay on Top
Budgeting is a key element of a business’s financial success, and when heading into this new financial year, there are a few things we at Fiander ETL would recommend that you do to maximise your funds.

Here are our top five tips to help manage your finances:
  • Review your past year and identify where your business is most and least profitable, ensuring you understand why this is the case in both instances. 
  • Set realistic budgets based on historical conditions, market conditions, and growth plans – make sure there is enough set aside for unexpected costs.  
  • Create monthly cash flow forecasts for the business. This allows you to predict when money may be tight and plan ahead.  
  • Plan for tax and compliance by ensuring there will be money set aside to pay things such as Corporation Tax and VAT. 
  • Manage your working capital by chasing overdue invoices regularly and managing your business’s inventory. 
Your Checklist Ahead of The Next Financial Year
Effective business growth requires a coordinated strategy. As well as ensuring a budgeting plan, here are three questions you should ask about your business prior to this new financial year.
  • What would success look like to your business?
  • Is there an element of your business that isn’t as efficient as it could be?
  • What are the biggest risks your business faces this year, and how well prepared are you to face them if the worst did happen? 
Being able to comfortably answer these three questions is a great starting point for a profitable year. At Fiander ETL, our expert advisors can ensure you begin the new financial year in the best possible way.
Thorough, timely planning in January can mitigate risk, enable strategic, thoughtful decision-making, and ensure you understand impending changes before they affect your organisation. By getting organised and seeking expert advice now, you can make the most of these changes, instead of letting them get the better of you.

Start your financial year strong, book a consultation with our advisory team today.

Contact us today