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Welcome...
To April's Tax Tips & News, our newsletter designed to bring you tax tips and news to keep you one step ahead of the taxman.
If you need further assistance just let us know or you can send us a question for our Question and Answer Section.
We are 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!
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Government is urged to scrap 'arbitrary' inheritance tax system
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The Institute of Economic Affairs (IEA) is urging the UK government to abolish inheritance tax (IHT), calling it 'arbitrary, complex and distortionary.
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Gulf expats worried about tax bill after UK return
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Chancellor concedes there was a valid argument for not increasing job taxes
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British citizens living in Gulf states have been returning to the UK because of the conflict involving Donald Trump's war with Iran.
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The Chancellor, Rachel Reeves, admitted there was a 'valid argument' against her decision to raise employers' National Insurance contributions.
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HMRC tax receipts and National Insurance contributions report
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HMRC regularly releases a bulletin to update on the amount of tax and NI receipts it receives.
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April Questions and Answers
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Q: I've received a letter from HMRC stating I have a drop in my tax-free allowance, so my tax code will change from April. My salary has not increased this past tax year, so why the change?
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Q: I'm in receipt of an NHS pension, contribute to a private pension and think I've become a higher rate taxpayer. I've never done a tax return before - how do I claim the tax relief please?
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Q: As the end of the tax year approaches, what should I check to maximise my tax allowances?
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1st
- Corporation Tax payments are due for companies with a year-end of 30th June.
5th
- The end of the current tax year (2025/26). Use up any remaining tax allowances or reliefs by this date.
6th
- The new tax year (2026/27) begins. Most changes to tax rules and other measures mentioned in the latest Budget will take effect from this date.
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, as well as the Final Payment Summary (FPS) for the previous tax year.
- It is also the deadline for employers operating PAYE to pay HMRC by post, for March.
22nd
- Deadline for employers operating PAYE to pay HMRC electronically, for March.
30th
- Corporation Tax Returns (CT600 form) are due for companies with a year-end of 30th April.
- It is also the deadline for submitting the Annual Tax on Enveloped Dwellings (ATED) return and making the associated payment for the period covering 1 April 2025 to 31 March 2026.
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Please contact us if we can help you with these or any other tax or accounts matters.
In addition, if there's anyone else who you think would benefit from the newsletter, please forward the email to them or ask them to contact us to be added to the newsletter list.
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If you are not already a client and are interested in becoming one, we would love to come to meet with you to discuss how we can help and provide you with a competitive quote for our services.
All new client consultations are provided free of charge and without obligation.
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DMB Davies Accountants are based in Cardigan, Wales, offering local business owners and individuals a wide range of services.
All clients are entitled to fixed fees, work delivered on time and unlimited phone support. Visit our website https://www.dmbdavies.co.uk for more information.
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