Welcome to our July newsletter. As we move into the second half of the year, now is an ideal time to review your tax and financial position and ensure you remain on track to meet your obligations while making the most of available reliefs and allowances. In this issue, we look at the High Income Child Benefit Charge and recent changes affecting eligible families, explore the qualifying conditions for Research & Development tax relief, explain the rules surrounding salaried members of LLPs, and provide an overview of dividend taxation for the 2026-27 tax year. We also include key tax dates for July and August to help you stay organised and compliant.
Families claiming Child Benefit should be aware of the High Income Child Benefit Charge (HICBC), which can apply when one member of the household has a higher income.
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Research and Development (R&D) tax relief is designed to support companies that invest in innovation and seek to make advances in science or technology. The scheme offers businesses the ability to invest in new technologies and scientific development in exchange for generous tax reliefs.
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Members of a Limited Liability Partnership (LLP) are normally treated as self-employed for tax purposes. However, special rules can apply where a member’s terms of membership are more akin to the terms of an employee than a partner in a traditional partnership.
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Understanding dividend tax is important for anyone who receives income from shares in a company. Dividends are taxed differently from salary, pensions and other forms of income, with their own allowances and tax rates.
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Tax Diary July/August 2026
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Kind regards,
Elan & Co
