Tax Tips and News
Just how many of the super-rich are fleeing the UK over tax hikes?
Newsletter issue – August 2025 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 considering leaving the UK to reduce their tax liabilities. Some believe the policy change could…Read More
Billions paid into cash ISAs
Newsletter issue – August 2025 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. Speculation arose that Ms. Reeves might reduce the tax-free allowance for…Read More
Tax raid pulls in £300 million less than predicted
Newsletter issue – August 2025 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 forecast. May borrowing hit £17.7 billion, exceeding the…Read More
"Time for a wealth tax”, say the rich.
Newsletter issue – August 2025 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. The group Patriotic Millionaires is urging the UK government to introduce a wealth tax to address inequality and invest…Read More
August Questions and Answers
Newsletter issue – August 2025 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? A: As you were a higher rate taxpayer before being…Read More
August Key Dates
Newsletter issue – August 2025 1st Corporation Tax payments are due for companies with a year-end of 31st October. 19th 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…Read More
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