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06/07/2025

Inheritance tax break that could lure expats back to the UK

Changes introduced by Chancellor Rachel Reeves on April 6 mean Britons who have lived abroad for 10 years are no longer subject to UK inheritance tax on their global assets. Read More...

The Government refuses to increase the annual Personal Allowance to £20,000	Reeves under pressure to create wealth tax
Parliament debated a petition calling for the income tax threshold to be raised from £12,570 to £20,000 to allow people to keep more of their earnings. The petition, signed by over 250,000 people, was spearheaded by pensioner Alan Frost, who described it .. Read More...	The financial pressures facing Chancellor Rachel Reeves continue to mount, particularly regarding a projected £57 billion shortfall in the country’s finances... Read More...

Reeves urged to launch tax raid on landlords

Labour MPs and influential advisers are urging Chancellor Rachel Reeves to “launch a tax raid” on landlords as part of efforts to fill a fiscal gap without breaking the party’s manifesto commitment against increasing taxes on “working people”...
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July Questions and Answers

July Key Dates

Q: I sometimes sell unwanted items online. Am I now liable to pay tax on any money I make? Answer

Q: For the first time in my life, I am paying tax on my pension. It is not a huge amount, but I am wondering if HMRC made a mistake, as my tax code has changed? Answer

Q: If the personal allowance is £12,570, why do I have to register as a sole trader if I’m making less than that each year?Answer

Newsletter issue – July 2025

1^st

Corporation Tax payments are due for companies with a year-end of 30th September.

6^th

Deadline for submitting P11D and P11D(b) forms for the tax year 2024-25.

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 June.

22^nd

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

30^th

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

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