Tax Tips Newsletter

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06/08/2025

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.

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
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...
 
Tax raid pulls in £300 million less than predicted
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
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? Read More...
 
August Key Dates
1st: Corporation Tax payments are due for companies with a year-end of 31st October. Read More...
 

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