A New Tax Year Has Begun in the UK – What Does It Mean for You?
Welcome to the new UK tax year!
It officially began on TODAY (6 April 2025) and will run until 5 April 2026.
But what does that actually mean — and why should you care?
Whether you’ve been self-employed for years, just started a side hustle, or even have a full-time job and earn a bit extra on the side — this blog will walk you through what the start of the tax year means for you.
We’ll explain it as simply as possible — no jargon, no overwhelm.
🧾 First things first – what is the tax year?
The tax year is the 12-month period that the government uses to check:
How much money you made
What you spent on your business
And how much tax you need to pay
The new tax year has just started:
👉 6 April 2025 to 5 April 2026
You’ll need to report everything you earn during this time when you do your next Self Assessment tax return.
👶 I’m new to self-employment — what do I need to know?
If you start a side hustle or small business, and make more than £1,000 profit in a tax year, you need to register with HMRC as self-employed.
Here’s how it works:
Start earning money from your hustle or business
Once you earn over £1,000, register with HMRC by 5 October 2026
After the tax year ends, you’ll need to file your Self Assessment tax return and pay any tax due by 31 January 2027
💡 Even if you don’t owe much tax, you still need to register and submit a return if you go over that £1,000 turnover mark.
Need help registering? We’ve got a step-by-step guide 👉 Register as Self-Employed
🧑💼 I’ve been self-employed a while – what does a new tax year mean for me?
Think of the tax year as a reset button.
You’ll start keeping records of:
Your new income (money coming in)
Your new expenses (things you buy for your business)
You’ll still submit your tax return for the previous year (6 April 2024 to 5 April 2025), but everything you earn from today onward will go on next year’s return.
👉 Tip: Use a tracker like the Hustle Mate Tax Companion so you’re not scrambling at the last minute. It helps you log everything month-by-month, so there are no surprises come January.
🧐 Do I really need to do a tax return?
Great question — a lot of people don’t realise they might need to file one, even if they’re not self-employed full-time.
Here are some reasons you might need to submit a Self Assessment tax return:
✅ You earned more than £1,000 from:
Freelancing
Selling on Etsy/Vinted/eBay
Being a delivery driver or gig worker
Any kind of paid work outside of your main job
✅ You’re employed, but also:
Have a side hustle
Do freelance work
Get money from rent or dividends
✅ You or your partner claim Child Benefit, but one of you earns over £60,000
This one catches people out. It’s called the High Income Child Benefit Charge (HICBC).
If:
You (or your partner) earn over £60,000, and
You get Child Benefit, then
You have to pay some (or all) of it back through your tax return
Even if you're fully employed and your tax is handled through PAYE, you still need to register for Self Assessment to repay it.
Learn more about HICBC 👉 High Income Child Benefit Charge
📅 What should I do now?
Here’s your simple next step:
📌 If you’re new to all this:
Track everything you earn and spend from today
Register as self-employed if you pass £1,000
Download our [free end-of-tax-year checklist]
📌 If you’ve been self-employed before:
Start fresh tracking your 2025/26 income and expenses
Keep last year’s records safe (you’ll still need to file your return for it)
Plan ahead for your 31 January 2026 deadline
💬 Need help? Hustle Mate’s got you.
If you’re confused about whether you need to file a return, what you can claim, or how to register — we’re here to help.
You don’t need to hire an accountant to get it right — but you do need clear advice, simple tools, and someone to explain it without the jargon.
That’s what Hustle Mate is here for 💛
