Tax Tips Newsletter

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27/08/2025

Our Tax Team – Rachel, Louise, Lee (L-R)

Welcome to Davies Tracey’s Tax Tips Newsletter, designed to keep you one step ahead of the taxman. We are committed to ensuring none of our clients pay a penny more in tax than is necessary and as such, this month’s news and tips include:

Inheritance tax break that could lure expats back
Refusal to increase the annual Personal Allowance
Pressure to create wealth tax
Reeves urged to launch tax raid on landlords

Click a link above to read an article, or skip straight to our regular content:

This month we’re also encouraging employers to check the tax relief method used on the payroll corresponds with the method on the pension provider’s records, for each employee. Cases are on the rise where the employer’s payroll is processed on the basis of one type of scheme, but the pension scheme’s records show it as another type of scheme. If the wrong method is used, the contributions may fall below the minimum legal contribution requirements. If you need any help with this, or anything payroll related, head over to our dedicated payroll service website at dtpayroll.co.uk

If you have any questions on any topics covered in this newsletter, please give us a call for answers. We’re here to help – on 01642 606003.

A new '10p tax' suggested to the Chancellor... by a billionaire
John Caudwell, billionaire and Phones 4u founder, has urged Chancellor Rachel Reeves to introduce a 10p per litre tax on petrol and diesel. Read More...
 
Revealed - UK's biggest deliberate tax defaulters
HMRC has named over 4,000 deliberate tax defaulters since 2015, collectively owing more than £1.5 billion. These individuals or firms were penalised for deliberate errors in tax returns or failing to meet tax obligations. Read More...
 
Chancellor considers a new property tax to replace stamp duty
Chancellor Rachel Reeves is exploring a new proportional property tax targeting homes worth over £500k. This would replace stamp duty for owner-occupied homes, but not for second homes. The tax would be paid upon sale, with rates set by central government Read More...
 
Car tax update sees a 400% hike in costs for some
Since April 2025, HMRC has reclassified double cab pick-up trucks as cars rather than commercial vehicles. Previously, pick-ups with payloads over 1,000kg were taxed as commercial vehicles, allowing drivers to pay a fixed Benefit-in-Kind (BiK) rate - rega Read More...
 
September Questions and Answers
Q: My teenage child has a summer job this year. As they are under 18, do they need to worry about tax on what they earn? Read More...
 
September Key Dates
1st: Corporation Tax payments are due for companies with a year-end of 30th November. Read More...
 

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