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25/07/2025 |
August Monthly Tax Tips & News
Welcome to the TWR Accountants Monthly Tax Tips & News monthly newsletter, bringing you the latest news to keep you one step ahead of the taxman. If you need further assistance just let us know or send us a question for our Question and Answer Section. We’re 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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| Just how many of the super-rich are fleeing the UK over tax hikes? |
| 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 consider Read More... |
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| Billions paid into cash ISAs |
| 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. Read More... |
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| Tax raid pulls in £300 million less than predicted |
| 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 Read More... |
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| "Time for a wealth tax”, say the rich. |
| 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. Read More... |
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| August Questions and Answers |
| 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? Read More... |
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| August Key Dates |
| 1st: Corporation Tax payments are due for companies with a year-end of 31st October. Read More... |
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| About Us |
TWR Accountants Accountants are based in Norfolk, Suffolk, 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 twraccounts.co.uk for more information.
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Copyright © 2025 TWR Accountants. All rights reserved.
57a High Street
Brandon
Suffolk
IP27 0AU
TWR Accountants is a trading name of TWR Accountants Ltd
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