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02/08/2025

Just how many of the super-rich are fleeing the UK over tax hikes?

Concerns over Chancellor Rachel Reeves' tax policy shift, scrapping tax benefits for non-domiciled residents (non-doms), has prompted concern amongst high earners. Legal experts warn that UK-based wealthy individuals - not just non-doms - are now consider Read More...

Billions paid into cash ISAs	Tax raid pulls in £300 million less than predicted
UK savers deposited a record £14 billion into cash ISAs in April 2024, the highest monthly figure since ISAs were introduced in 1999. The surge is attributed to fears of potential changes to ISA rules under Chancellor Rachel Reeves... Read More...	Chancellor Rachel Reeves's £25 billion National Insurance hike brought in £300 million less than expected in its first two months. PAYE income tax and employer NI contributions totalled £37.2 billion in May - up 9.5% from last year but £200 million below .. Read More...

"Time for a wealth tax”, say the rich.

The 2025 Sunday Times Rich List reveals that a small group of 350 families control £772 billion in wealth – enough to fund the UK's annual healthcare budget three times over...
Read More...

August Questions and Answers

August Key Dates

Q: I was made redundant part way through the last tax year. I was a higher rate taxpayer but now live on income from my savings. What is my Personal Savings Allowance now and can I expect a tax bill? Answer

Q: I am a sole trader and have been looking into how to keep my tax bill as low as possible. I’ve heard about an Annual Investment Allowance (AIA) but am unsure if it relates to me. Can you advise please? Answer

Q: I received a letter from HMRC saying I'm owed money. Does that mean I've been on the wrong tax code, or is this letter a scam? Answer

Newsletter issue – August 2025

1^st

Corporation Tax payments are due for companies with a year-end of 31st October.

19^th

For employers operating PAYE, this is the deadline to send an Employer Payment Summary (EPS) to claim any reduction on what you’ll owe HMRC.
It is also the deadline for employers operating PAYE to pay HMRC by post, for July.

22^nd

Deadline for employers operating PAYE to pay HMRC electronically, for July.

31^st

Corporation Tax Returns (CT600 form) are due for companies with a year-end of 31st August.

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