Insightful Tax Updates for Homeowners, Business Owners & Families
As we step into the second half of 2025, change is in the air — from new regulatory requirements to practical planning opportunities. In this month’s newsletter, we bring you the key updates that could affect you, your family, and your business over the coming months.
From upcoming identity checks at Companies House and the importance of registering payroll correctly, to tax planning for high-net-worth individuals and the return of Winter Fuel Payments, we’ve rounded up the latest news to help you stay compliant, informed, and financially prepared.
If any of these topics raise questions, our team is here to help you take the next step.
New Team Members joining Bidwell Accountancy
We’re delighted to welcome two fantastic new members to the Bidwell Accountancy team! Steve Brown joins us as our new Practice Manager, bringing with him a wealth of experience gained over many years working in both small accountancy firms and one of the UK’s top 10 practices. His expertise and client-focused approach make him a great fit to help lead and grow our firm.
We’re also excited to introduce Elizabeth Trasler, who will head up our Payroll Department as our dedicated Payroll Specialist. Elizabeth has worked in the accountancy world for many years, providing expert payroll support to a wide variety of businesses. Both Steve and Elizabeth share our commitment to delivering exceptional service to our clients, and we’re thrilled to have them on board.
Please join us in giving them a warm welcome!
🔍 Are you ready for Companies House ID checks?
From later this year, directors, PSCs, and company agents will need to verify their identity with Companies House before they can take up new roles or make filings.
These checks aim to crack down on fraud and improve corporate transparency — but they will place a new administrative burden on business owners.
We recommend ensuring all key individuals have up-to-date photo ID and that your company records are current. At Bidwell Accountancy, we can help you complete verification through our status as an authorised agent. Speak to us today to prepare ahead of the deadline.
💼 Side income? Don’t get caught out
Earning additional income — from casual work, renting out property, or even cryptoassets — could trigger a tax return if it exceeds £1,000 in a tax year.
We can advise you on how to use the £1,000 trading allowance and £1,000 property allowance effectively, and whether it’s better to deduct actual expenses. If your side income has grown this year, let us know so we can help you stay compliant and avoid unnecessary penalties.
👥 Setting up payroll — get it right from the start
If you’re employing staff (or even paying yourself as a director), you must register as an employer with HMRC and operate a compliant payroll scheme.
From National Insurance contributions to workplace pensions, payroll has become increasingly complex. Our experienced payroll team can set you up correctly, handle reporting, and ensure your employees are paid accurately and on time.
If you’re hiring — or want to review your payroll processes — talk to us today.
📊 HMRC’s tax gap hits £46.8 billion
HMRC estimates it missed out on £46.8 billion of tax revenue in 2023-24 — mostly from small businesses and Corporation Tax.
Mistakes, lack of advice, and uncollected debts make up a large part of this gap. Working with a proactive accountant like Bidwell Accountancy can help you avoid costly errors and take advantage of available reliefs, while ensuring you remain on the right side of the rules.
💡 High-net-worth? Strategic tax planning is key
For high-net-worth individuals, effective tax planning is essential. From income splitting and trust planning to managing CGT and IHT exposure, we can help you structure your affairs tax-efficiently.
With frozen allowances and increased HMRC scrutiny, now is the time to review your financial position and ensure you’re making the most of available reliefs. Contact us to arrange a confidential planning session.
📝 Tax Diary — July & August 2025
✅ 6 July: Submit P11D & P11D(b) returns
✅ 19 July: Pay Class 1A NICs
✅ 31 July: Second payment on account for 2024-25 Self-Assessment
✅ 19 Aug: PAYE, NIC, and CIS deadlines
📞 Get in Touch
At Bidwell Accountancy, we pride ourselves on being more than just accountants — we’re trusted advisers and partners to our clients, helping you grow and protect what matters most.
If you’d like to discuss how any of the topics above affect you, or if you’re looking for proactive advice from a team who care about your success, we’d love to hear from you.
📧 Email us at info@bidwellaccountancy.com
📞 Call us on (01908) 380391
🌐 Visit our website www.bidwellaccountancy.com
Let’s take your tax and business planning to the next level—together.
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