HMRC Mandatory Tax Adviser Registration Opens 18 May
From 18 May, anyone paid to interact with HMRC on a client's behalf must register as a tax adviser. The definition is broad — accountants, bookkeepers, conveyancing solicitors handling SDLT returns, and standalone payroll providers all fall in scope. Unregistered advisers acting after their applicable deadline face penalties of £5,000 to £10,000.
Deadlines stagger by adviser type. Existing agents with a Self Assessment or Corporation Tax account but no agent services account can register from 18 August; payroll-only providers from 18 November. If you use an accountant, the practical question is whether they intend to register and on what timeline — anyone opting out will need to hand your account to someone who has.
Source: GOV.UK — Tax advisers to register with HMRC and meet minimum standards | Related: Making Tax Digital for Income Tax guide
Salary-Sacrifice Pension NIC Cap Clears Royal Assent
The National Insurance Contributions (Employer Pensions Contributions) Act 2026 received Royal Assent on 29 April. The Act itself does not change anything yet — it gives HM Treasury the power to introduce, by regulation, a £2,000 cap on the NIC exemption for salary-sacrificed pension contributions, intended to take effect from April 2029. A consultation on design is expected first.
Once in force, employee and employer NICs would apply on any sacrificed amount above £2,000 a year, eroding one of the cleanest tax-planning levers for higher earners. 2029 is far enough out that no action is needed this week, but the direction of travel is now set in primary legislation rather than rumoured.
Source: ICAEW — Tax news in brief, 5 May 2026 | Related: Director Salary and Dividend Strategy
Frozen Thresholds Show Up in the Numbers: 5.76m Higher-Rate Taxpayers
HMRC published Personal Incomes Statistics for 2023/24 on 29 April. 5.76 million people paid income tax at the higher or additional rate that year — up from 3.83 million in 2019/20, a 50% increase in five years. Higher and additional-rate payers now make up 15.7% of all UK taxpayers, against 12.2% five years ago.
The driver is fiscal drag: the £12,570 Personal Allowance and the £50,270 rUK higher-rate threshold have been frozen since 2021/22 while wages have grown. The OBR projects a further 4.8 million people moving into the higher rate by 2030/31 if the freeze runs its course.
Source: GOV.UK — Personal Incomes Statistics for the tax year 2023 to 2024 | Related: Scottish Budget 2026/27: The "Fiscal Drag" Reality
Statutory Sick Pay Reforms — One Month In
The reforms to Statutory Sick Pay in the Employment Rights Act 2025 took effect on 6 April. The three-day waiting period has gone, so SSP is payable from the first qualifying day. The Lower Earnings Limit test has also gone — employees earning below the LEL are now entitled for the first time, calculated as 80% of average weekly earnings, capped at the standard SSP rate.
For small employers the cost impact is real but bounded — most short illnesses ended before SSP started under the old rules, and the 80% cap limits pay for the lowest paid. The administrative impact is bigger: payroll software, contracts, and absence policies all need updating.
Source: ACAS — Statutory Sick Pay changes 2026 | Related: Sole Trader vs Limited Company
Key Dates
18 May 2026 — Mandatory tax adviser registration opens. Existing SA/CT-only agents have until 18 August; payroll-only providers until 18 November.
20 May 2026 — ONS publishes April CPI inflation. The Bank had pencilled in 3% to 3.5% through Q2; an upside surprise would harden the hawkish dissent at the last MPC.
31 May 2026 — P60 deadline for 2025/26. Also the final day to use HMRC's online service to retrieve your overlap relief figure.
18 June 2026 (Thursday) — Next Bank of England MPC decision. Bank Rate currently 3.75%.
6 July 2026 — P11D deadline for 2025/26 benefits-in-kind, for employers not signed up to payroll BIKs.