A record 737,891 taxpayers filed their 2025/26 self assessment returns in April, according to figures from HMRC.

The tax authority said that 86,270 taxpayers submitted their return on the first possible day, which was Easter Monday. That made 6 April, the first day of the new tax year, the most popular date for filing.

In total, 298,905 people filed their 2025/26 self assessment tax return in the first week of the tax year.

HMRC says that people who file their tax return early and are owed a tax refund, can receive it sooner.

Anyone unsure whether they need to complete a tax return can use the checker tool on GOV.UK to find out. People new to self assessment must first register to receive their Unique Taxpayer Reference, which they will need when they complete and file their return.

Myrtle Lloyd, Chief Customer Officer at HMRC, said:

‘For thousands of people, filing early and staying on top of their finances has become the norm. It takes the pressure off in January and means they can spend their time focusing on their business and doing things they love.

‘Make a start on your tax return today by searching ‘self assessment’ on GOV.UK.’

Internet link: HMRC

The government will contact thousands of young people about forgotten Child Trust Funds (CTFs) in a bid to reunite account holders with their accounts that are now worth £2,200 on average.

CTFs were introduced by the government in 2005 and applied to children born between 1 September 2002 and 2 January 2011.

The government is now undertaking an extensive awareness campaign urging young people to locate their CTFs through the free ‘Find My Child Trust Fund’ service on GOV.UK.

Many young people are unaware they have a CTF and over 750,000 accounts are unclaimed. The government says it is determined to act so every young person that has a CTF is aware of how to access it.

In order to build on existing efforts, HMRC will be writing to all 21-year-olds whose accounts remain unclaimed to make them aware they have a CTF.

Economic Secretary to the Treasury, Lucy Rigby, said:

‘Hundreds of thousands of young people in this country don’t know they have a CTF, let alone how to access it. Some will have a couple of thousand pounds sat there that would really help them as they begin adult life.

‘I’m determined that those who have CTFs are made aware they have this money.

‘Together, we will ensure funds from these Child Trust Funds can be accessed by young people to help give them the best start to adult life.’

Internet link: HM Treasury

Small businesses to be backed by new, stronger measures to tackle late payments, the government has announced.

The Small Business Commissioner will be given sweeping new powers to investigate poor payment practices, adjudicate payment disputes, and fine the worst offenders – with fines worth tens of millions for firms that persistently pay late or fail to comply with the new laws.

The government says the measures will tackle a problem costing the UK economy £11 billion every year.

The changes will include a new 60-day cap on payment terms on all large firms when paying smaller suppliers. New mandatory interest on late payments will also be introduced, with a requirement for all commercial contracts to include statutory interest set at 8% above the Bank of England base rate.

Business Secretary Peter Kyle said:

‘Far too many businesses are forced to shut down because they have not been paid – that is simply unacceptable.

‘We are unveiling the strongest, most robust changes to payment laws in over a generation – laws that will transform the fortunes of small businesses for years to come and make their day to day lives much easier.’

Internet link: GOV.UK

HMRC is warning pensioners to be on high alert for scams as the recovery of Winter Fuel Payments begins this month.

Almost two million people are expected to repay their winter 2025 payment due to their annual income being more than £35,000.

HMRC saw more than 25,000 Winter Fuel Payment scam referrals over the last 12 months. It is warning that scammers may now use the recovery process to target this group.

For most, the payment will be recovered through a change to their PAYE tax code from April 2026 with no need to contact HMRC.

For those in self assessment who file online, the payment should be pre-populated in their 2025/26 tax return. Customers should check and add it manually if it is not shown. Paper filers will need to add it on their tax return.

This applies across the UK – including in Scotland, where the payment is known as the Pension Age Winter Heating Payment and in Northern Ireland, where payments were made by the Department for Work and Pensions on behalf of the Northern Ireland Executive. In all cases, recovery is handled by HMRC.

Myrtle Lloyd, HMRC’s Chief Customer Officer, said:

‘Criminals are great pretenders and often use fake letters, emails, calls and texts to impersonate HMRC and trick people into giving them money.

‘I’d encourage anyone who’s unsure to use our online tool at GOV.UK to check whether and how their payment will be recovered – there’s no need to call us.’

Internet link: HMRC press release

The government’s new procurement rules that target opportunities for smaller businesses offer hope to SMEs, according to the British Chambers of Commerce (BCC).

Government departments have, for the first time, set individual spending targets for SMEs to deliver over £7.4 billion a year to small businesses by 2028.

Departments have for the first time, individually set direct SME spending targets and will publish yearly progress updates ensuring they are held to account, those who fall behind will need to set out robust actions on how they will improve.

In 2024, the BCC and Tussell’s SME Procurement Tracker found only 20% of direct procurement spend from the wider public sector, including central government, went to SMEs.

Jonny Haseldine, Head of Business Environment policy at the BCC, said:

‘This shake up is long overdue as public procurement spend with SMEs has been stuck in a rut. Although the value of contracts with SMEs has continued to rise their slice of the pie is still far too small. For too many businesses, government contracts remain out of reach.  

‘This new scheme has the potential to be a game changer, giving smaller firms across the UK greater access to procurement opportunities and supply chains. 

‘As has been demonstrated by Chamber-led supply chains at major infrastructure projects such as Sizewell C and Hinkley Point, SMEs are a vital part of the ecosystem. They provide local skills and knowledge to projects as well as significantly boosting regional economic growth.’

Internet link: BCC GOV.UK