Monthly Archives: July 2025

HMRC missed out on £46.8bn in tax last year. Small businesses and Corporation Tax make up the biggest share of the shortfall.The tax gap for the 2023-24 tax year has been published and is estimated to be 5.3% of total theoretical tax liabilities.The tax gap is basically the difference between the amount of tax that…

The government has announced the reinstatement of Winter Fuel Payments for pensioners in England and Wales for winter 2025-26, reversing the previous year's cuts. Around nine million pensioners are expected to benefit from this decision, with payments of £200 per household or £300 for households where someone is aged 80 or over.Eligibility will be based…

For high net worth individuals (HNWIs), tax planning is not simply a compliance activity, it is a strategic tool to preserve and grow wealth. With rising scrutiny from HMRC, frozen allowances, and increasingly complex legislation, the value of well-structured planning has never been higher.HNWIs typically have multiple sources of income: from employment, dividends, property, pensions,…

1 July 2025 - Due date for corporation tax due for the year ended 30 September 2024.6 July 2025 - Complete and submit forms P11D return of benefits and expenses and P11D(b) return of Class 1A NICs.19 July 2025 - Pay Class 1A NICs (by the 22 July 2025 if paid electronically).19 July 2025 -…