SMH Financial Services releases 2025/26 tax planning tips guide

The start of the 2025/26 tax year brings with it a host of changes that highlight the importance of proactive financial planning for individuals and business owners alike. In response, SMH Financial Services has released a tax planning guide featuring 50 expert tips designed to help clients make smarter, more tax-efficient decisions.

With income tax thresholds and personal allowances once again frozen, many taxpayers could find themselves paying more through the effects of fiscal drag. In addition, several important tax reliefs have been reduced or withdrawn entirely, increasing the pressure to review finances.

Among the most significant developments this year:

• The rate of employer National Insurance Contributions has increased to 15%, while the threshold has dropped to £5,000.
  
  
• Furnished holiday lettings have lost their previous tax advantages.
  
  
• The main rate of Capital Gains Tax on qualifying business assets has risen from 10% to 14%, with a further increase to 18% expected in 2026.
  
  
• Planned changes to Inheritance Tax reliefs have also been announced, due to take effect from April 2026.
  
  

“Our latest guide is packed with practical tips to help clients reduce tax liabilities, improve retirement planning, and make informed decisions about the structure and future of their business,” says Simon Turner, Partner at SMH Financial Services. “In a year when so many allowances remain frozen and rates are rising, forward planning is more important than ever.”

Download the 2025/26 tax planning tips guide here

For further information, please contact SMH Financial Services on 0114 266 4432 or email info@smh.group.