Tax Tips and News
Government is urged to scrap 'arbitrary' inheritance tax system
Newsletter issue – April 2026 The Institute of Economic Affairs (IEA) is urging the UK government to abolish inheritance tax (IHT), calling it 'arbitrary, complex and distortionary.' Nearly half of OECD countries do not tax inheritances passed to adult children, making the UK a relative outlier. IHT currently charges 40% on estates above £325,000, or…Read More
Gulf expats worried about tax bill after UK return
Newsletter issue – April 2026 British citizens living in Gulf states have been returning to the UK because of the conflict involving Donald Trump's war with Iran. Many left suddenly for safety reasons, not intending to change their tax residency status. Returning earlier than planned can trigger the UK's five-year temporary non-residency rule, an anti-avoidance…Read More
Chancellor concedes there was a valid argument for not increasing job taxes
Newsletter issue – April 2026 The Chancellor, Rachel Reeves, admitted there was a 'valid argument' against her decision to raise employers' National Insurance contributions. She defended the increase as necessary to fund public services, especially the NHS, which received a £29 billion annual uplift. Critics argue her admission comes too late for businesses and workers…Read More
HMRC tax receipts and National Insurance contributions report
Newsletter issue – April 2026 HMRC regularly releases a bulletin to update on the amount of tax and NI receipts it receives. The latest report revealed a couple of new records and reflects the impact caused by the Chancellor's changes to various tax regimes. Total gross HMRC tax and NICs receipts for April 2025 to…Read More
April Questions and Answers
Newsletter issue – April 2026 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? A:HMRC sends updated tax codes throughout the year, not just at the start…Read More
April Key Dates
Newsletter issue – April 2026 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…Read More
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