Tax Tips and News

• A new '10p tax' suggested to the Chancellor... by a billionaire

  Newsletter issue – September 2025 John Caudwell, billionaire and Phones 4u founder, has urged Chancellor Rachel Reeves to introduce a 10p per litre tax on petrol and diesel. He claims this could raise £20 billion for the Treasury and help avoid other unpopular tax hikes. His rationale behind the proposal is that fuel prices have…Read More

• Revealed - UK's biggest deliberate tax defaulters

  Newsletter issue – September 2025 HMRC has named over 4,000 deliberate tax defaulters since 2015, collectively owing more than £1.5 billion. These individuals or firms were penalised for deliberate errors in tax returns or failing to meet tax obligations. Here is the sector breakdown: Hospitality: 21% of defaulters (e.g. takeaways, pubs, cafes). Construction & Trades:…Read More

• Chancellor considers a new property tax to replace stamp duty

  Newsletter issue – September 2025 Chancellor Rachel Reeves is exploring a new proportional property tax targeting homes worth over £500k. This would replace stamp duty for owner-occupied homes, but not for second homes. The tax would be paid upon sale, with rates set by central government and collected by HMRC. Officials are also studying a…Read More

• Car tax update sees a 400% hike in costs for some

  Newsletter issue – September 2025 Since April 2025, HMRC has reclassified double cab pick-up trucks as cars rather than commercial vehicles. Previously, pick-ups with payloads over 1,000kg were taxed as commercial vehicles, allowing drivers to pay a fixed Benefit-in-Kind (BiK) rate - regardless of luxury level. These vehicles will now be taxed based on CO2…Read More

• September Questions and Answers

  Newsletter issue – September 2025 Q: My teenage child has a summer job this year. As they are under 18, do they need to worry about tax on what they earn? A: Contrary to popular belief, children are eligible to pay tax just like adults. They rarely do because if they do earn anything, it…Read More

• September Key Dates

  Newsletter issue – September 2025 1st Corporation Tax payments are due for companies with a year-end of 30th November. 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. It is also the deadline for employers operating PAYE to pay…Read More

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