Tax Tips Newsletter

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07/08/2026

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:

ISA reforms on the way
Updated tax codes for state pensioners
Retiree reclaims after being overtaxed
MTD uptake behind requirements

Click a link above to read the article.

A reminder for clients: Don’t wait until January

We’re now well into the 2026/27 tax year. A simple mid-year review can identify opportunities to reduce tax, improve cash flow and avoid unexpected liabilities. If your circumstances have changed this year, it’s worth speaking to us now rather than after the year-end.

Finally, you can click below to explore our regular content:

Question & Answer section (click here to send us a question for next time)
Key Tax Dates

Please give us a call if you have any questions on any topics covered in this newsletter. We’re here to help – on 01642 606003.

ISA Reforms on the way
The government is consulting on a new ISA to replace the Lifetime ISA (LISA). It will be available to anyone aged 18+, removing the LISA's upper age limit of 40. This reflects the rising ages of first-time buyers. Read More...
 
State pensioners receiving new 'earnings limit' tax codes
HMRC is sending updated tax codes to state pensioners who exceeded the earnings limit for the Winter Fuel Payment. These letters began going out in June. Read More...
 
Retirees reclaiming larger pension tax refunds
New HMRC figures show large refunds reclaimed in early 2026. Thousands of retirees reclaimed money after being overtaxed on flexible pension withdrawals. Read More...
 
Making Tax Digital (MTD) uptake is far behind requirements
Fewer than half of sole traders required to join MTD have registered. Only 400,000 sign-ups have occurred since the start of the financial year Read More...
 
August Questions and Answers
Q: I've heard that making charitable donations can increase my tax-free Personal Allowance. How does this work, exactly? 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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