2026/27 Business Readiness Scorecard — Are You Prepared for the Year Ahead?
New tax rates, MTD deadlines, rising costs, and regulatory changes make 2026/27 one of the most significant years for UK businesses. This 12-question scorecard checks your readiness across tax, compliance, financial health, and growth. Find out where you stand and what needs attention before it becomes urgent.
How to use
For each of the 12 questions, select Yes, Partly, or No. Questions cover the tax changes that took effect in April 2025 and 2026, MTD compliance, financial management practices, regulatory requirements, and growth readiness. Your score is calculated at the end with specific action items for any gaps.
Understanding Your Readiness Score
Your score reflects how prepared your business is for the regulatory, tax, and financial landscape of 2026/27. The areas marked red are not just nice-to-haves — many carry penalties for non-compliance or represent real financial risks. The amber areas are partially covered but have gaps that could cause problems under pressure.
Frequently Asked Questions
What tax changes affect businesses in 2026/27?
Key changes include: employer NIC at 15% with a reduced secondary threshold of 5,000 pounds (from April 2025, ongoing), MTD for Income Tax starting April 2026 for incomes over 50,000 pounds, updated Corporation Tax marginal rate bands, and changes to dividend tax rates. The cumulative impact on employment costs is significant for businesses with staff.
When is my Corporation Tax due?
Corporation Tax must be paid within 9 months and 1 day of your accounting period end. The CT600 return must be filed within 12 months. Companies with profits over 1.5 million pounds must pay in quarterly instalments. Missing the payment deadline incurs interest; missing the filing deadline incurs penalties.
How do I ringfence tax money effectively?
Open a separate business savings account and transfer your estimated VAT and Corporation Tax liability every month. A simple rule of thumb: transfer 20% of revenue for VAT (adjust based on your input VAT claims) and 19-25% of monthly profit for Corporation Tax. This means the money is there when the bill arrives.
What should be in my monthly management accounts?
At minimum: profit and loss statement, balance sheet, cash flow statement, aged debtors and creditors reports, and comparison to budget. These should be produced within 2 weeks of month-end. If you are not seeing these reports monthly, your financial management has a significant blind spot.
How do I improve my business credit score for lending?
File all accounts and returns on time, keep your books up to date, maintain clean bank reconciliations, file your confirmation statement, and ensure your Companies House information is accurate. Lenders check all of these. A business that cannot produce current management accounts will struggle to get finance when it needs it most.
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Book a Free Discovery Call© Imperial Consulting Limited, trading as Grosvenor.Solutions. Registered in England. This tool is for educational and illustrative purposes only. It does not constitute financial, tax, or legal advice. Consult a qualified professional for decisions affecting your business.