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01/05/2026

May Tax Tips & News

Welcome to the Davies Tracey Tax Tips & News monthly newsletter, bringing you the latest news to keep you one step ahead of the taxman.

If you need further assistance just let us know or send us a question for our Question and Answer Section.

We’re committed to ensuring none of our clients pay a penny more in tax than is necessary and they receive useful tax and business advice and support throughout the year.

Please contact us for advice on your own specific circumstances. We’re here to help!

Massive council tax hikes for second homes in Scotland

Midlothian Council has introduced a 500% council tax premium on second homes from 1 April. This means some owners now face annual bills up to about £28,000, especially for Band G properties. Read More...

Stamp Duty nets £307m more in the year since its change

First-time buyers are paying significantly more in stamp duty since temporary tax relief ended in April 2025. Read More...

Chancellor planning tax changes to attract wealthy back to the UK

The Chancellor, Rachel Reeves, is preparing a package of tax breaks aimed at high earners, particularly those who left the UK following recent tax rises. Read More...

178,000 taxpayers missed out on rebates sent by cheque

178,000 people didn't receive tax rebates last year because they never cashed the cheques HMRC sent them. Read More...

May Questions and Answers

I'm converting a non-residential property into my new home. I've heard that I may be able to use the DIY Housebuilder Scheme but am unsure what it is. Can you explain? Read More...

May Key Dates

1st: Corporation Tax payments are due for companies with a year-end of 31st July. Read More...

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