Welcome to our August newsletter. As businesses and individuals continue to navigate an evolving tax landscape, keeping up to date with the latest guidance and planning opportunities remains essential. This month’s edition highlights several areas where proactive action could help reduce tax liabilities, improve cash flow and ensure you remain fully compliant with HMRC requirements.
Inside, we explain how to check whether HMRC may be holding money that is due back to you, outline the key Capital Gains Tax considerations for anyone planning to dispose of shares or investments, and explore the valuable tax reliefs available when gifting assets to charity. We also look at the tax implications of financial gifts between family members, including the Inheritance Tax rules that should be considered when making larger gifts. Finally, don’t forget to review our tax diary for the important filing and payment deadlines over the coming weeks to help keep your affairs on track.
It is important to know if HMRC is holding money that belongs to you. For example, if you have paid too much tax to HMRC, you may be able to claim a tax refund (also known as a tax rebate).
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If you are selling shares or other investments, you may incur Capital Gains Tax (CGT) on any profit, or ‘gain’, you make.
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Most people are aware that cash donations to a charity can qualify for tax relief. However, it is less well known that gifts of land, property and qualifying shares can also provide valuable tax advantages.
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Receiving money from a family member can be a welcome source of financial support, but many people are unsure whether they need to pay tax on it. In most cases, the person receiving a gift does not pay Income Tax on money given by family. However, the gift could have Inheritance Tax implications for the person making the gift.
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Tax Diary August/September 2026
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Kind regards,
Elan & Co
