Tax Tips and News
Government climbdown on inheritance tax for family firms
Newsletter issue – February 2026 Chancellor Rachel Reeves recently reversed part of a planned inheritance tax change affecting family-owned businesses and farms. The threshold at which 20% inheritance tax applies was raised from £1m to £2.5m (or £5m for married couples). She is facing mounting pressure to reconsider the policy entirely. Campaigners argue that even…Read More
Government rejects call to raise pensioners' tax-free allowance
Newsletter issue – February 2026 A petition asked the Government to create a new tax code for people over state pension age and raise their personal allowance to £25,140. It passed 34,000 signatures, triggering an official Government response. The Treasury said the proposal is too expensive and rejected the idea, calling it "costly and untargeted."…Read More
Surge in Cash ISA Deposits
Newsletter issue – February 2026 Savers rushed to deposit money into cash ISAs in October, driven by speculation that the annual allowance might be cut. £4.2 bn was added in October - a 75% increase from September's £2.4 bn. Of course, the allowance cut speculation did become reality. In the Budget, Chancellor Rachel Reeves confirmed…Read More
Claims that the Chancellor's U-turns cost £3bn of headroom
Newsletter issue – February 2026 Chancellor Rachel Reeves is reported to have already used up to £3bn of the £22bn fiscal headroom she set out in her November Budget. The spending is linked to a series of U-turns and concessions made since the Budget was announced. Sir Mel Stride, the Conservative shadow chancellor, is urging…Read More
February Questions and Answers
Newsletter issue – February 2026 Q. I'm close to going over the capital gains tax limit. How can I avoid a bill? A: It is important to remember that capital gains tax (CGT) is only payable when you realise the gain. That is to say, if your asset(s) worth has grown more than the annual…Read More
February Key Dates
Newsletter issue – February 2026 1st Corporation Tax payments are due for companies with a year-end of 30th April 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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