With the end of the 2025/26 tax year fast approaching, it is now the time to consider some opportunities for saving tax with some careful end of year tax planning. This guide will provide you with lots of tax saving tips, but not all of these will be relevant to your particular circumstances.
This Tax E-News focuses on critical year-end planning opportunities that individuals and businesses should address before the April 5 deadline. Key recommendations include maximizing the £20,000 ISA allowance and considering the 25% government bonus available through Lifetime ISAs. Pension contributions remain a powerful strategy, particularly for those earning between £100,000 and £125,140 who can benefit from an effective 60% tax saving. Businesses are also encouraged to review equipment spending to utilize the £1 million Annual Investment Allowance or the new 40% first-year allowance introduced in January 2026.
Significant legislative shifts are approaching in April 2026, including a two percentage point increase in dividend tax rates and a rise in Capital Gains Tax for certain reliefs to 18%. A notable government “U-turn” will increase the Inheritance Tax relief cap for qualifying agricultural and business assets to £2.5 million, potentially allowing couples to pass on £5 million tax-free. Furthermore, the newsletter outlines the upcoming Making Tax Digital (MTD) mandate for self-assessment taxpayers , the removal of employee tax relief for working from home , and the future requirement for mandatory payrolling of benefits in kind starting in 2027.
With the end of the 2024/25 tax year fast approaching, it is now the time to consider some opportunities for saving tax with some careful end of year tax planning. This guide will provide you with lots of tax saving tips, but not all of these will be relevant to your particular circumstances.
Welcome to our monthly tax newsletter designed to keep you informed of the latest tax issues.
THERE’S STILL TIME FOR SOME YEAR END TAX PLANNING!
AVOID ANY DOUBLE CAB ‘HICCUPS’!
EMPLOYMENT EXPENSES
VAT ON FOOD AND DRINK
DIARY OF MAIN TAX EVENTS – FEBRUARY/MARCH 2025
Welcome to our monthly tax newsletter designed to keep you informed of the latest tax issues.
In this month’s newsletter:
FARMERS CAMPAIGNING FOR AGRICULTURAL PROPERTY RETHINK
BRING FORWARD SUCCESSION PLANNING TO AVOID A BIG IHT BILL
CHECK YOUR STATE PENSION ENTITLEMENT
PAYING EMPLOYEES EARLY BEFORE CHRISTMAS
REMEMBER CHRISTMAS GIFTS OF UP TO £50 PER EMPLOYEE ARE TAX FREE
CHRISTMAS PARTY TIME!
ADVISORY FUEL RATE FOR COMPANY CARS
DIARY OF MAIN TAX EVENTS – OCTOBER/NOVEMBER 2024
Welcome to our monthly tax newsletter designed to keep you informed of the latest tax issues.
In this month’s newsletter:
POSSIBLE CAPITAL GAINS TAX CHANGES IN THE OCTOBER BUDGET – SHOULD YOU BRING FORWARD ASSET DISPOSALS BEFORE BUDGET DAY?
BEWARE “BED AND BREAKFAST” ANTI-AVOIDANCE
RUMOURS OF PENSION CHANGES IN THE OCTOBER BUDGET
MANY OVER 55’S CAN WITHDRAW 25% OF THEIR PENSION FUND TAX-FREE
CHECK YOUR STATE PENSION ENTITLEMENT
“NUDGE” LETTERS BEING SENT BY HMRC TO TAXPAYERS
BEWARE “SCAM” LETTERS CLAIMING TO BE FROM HMRC
DIARY OF MAIN TAX EVENTS -OCTOBER/NOVEMBER 2024
Welcome to our monthly tax newsletter designed to keep you informed of the latest tax issues.
In this month’s newsletter:
YEAR END TAX PLANNING
USE A LIFETIME ISA (LISA) TO SAVE FOR YOUR FIRST HOME
PENSION PLANNING
CAPITAL GAINS TAX PLANNING
CAPITAL EXPENDITURE PLANNING
GET READY FOR MORE R&D CHANGES
ADVISORY FUEL RATE FOR COMPANY CARS
DON’T BE LATE IN PAYING YOUR PERSONAL TAX BILL
DIARY OF MAIN TAX EVENTS – FEBRUARY/MARCH 2024
Welcome to our monthly tax newsletter designed to keep you informed of the latest tax issues.
In this month’s newsletter:
NEW YEAR RESOLUTIONS TO SAVE TAX
TIME TO REVIEW, OR MAKE A WILL?
PASSING ON THE FAMILY HOME
LEAVING MONEY IN YOUR WILL TO CHARITY
YEAR END INHERITANCE TAX PLANNING
REGULAR GIFTS OUT OF YOUR INCOME CAN SAVE IHT
PENSION CONTRIBUTIONS ON BEHALF OF OTHERS
UPDATE PAYROLL SOFTWARE FOR THE JANUARY NIC CUT
ADVISORY FUEL RATE FOR COMPANY CARS
DIARY OF MAIN TAX EVENTS – JANUARY/FEBRUARY 2024
Welcome to our monthly tax newsletter designed to keep you informed of the latest tax issues.
In this month’s newsletter:
BACK TO SCHOOL – SET UP A TAX FREE CHILDCARE ACCOUNT?
CHILD BENEFIT MAY CREATE A TAX CHARGE FOR THOSE WITH HIGH INCOME
MERGER OF R&D TAX RELIEF SCHEMES TO GO AHEAD
INCOME TAX ON INHERITED PENSION FUNDS
HMRC TO REQUIRE MORE INFORMATION TO BE PROVIDED BY TAXPAYERS
ADVISORY FUEL RATE FOR COMPANY CARS
DIARY OF MAIN TAX EVENTS – SEPTEMBER/OCTOBER 2023
Welcome to our monthly tax newsletter designed to keep you informed of the latest tax issues.
In this month’s newsletter:
2022/23 P11d FORMS TO BE SUBMITTED ONLINE
PAYE SETTLEMENT AGREEMENTS ALSO ONLINE
PENSION LIFETIME ALLOWANCE
PENSIONS AND ESTATE PLANNING
CONSULTATION INTO POSSIBLE REFORM OF CONSTRUCTION INDUSTRY SCHEME
DIARY OF MAIN TAX EVENTS – MAY/JUNE 2023