In the 2018/2019 tax year HMRC opened investigations into 5,537 inheritance tax returns submitted, according to figures gained from a freedom of information request by wealth managers Quilter. This represents 23% of the 22,000 estates on which inheritance tax was due. This number of investigations is 3.4% higher than in the previous year and 7.8% […]
If you were to make a gift of money or assets would you be aware of the inheritance tax rules that might apply? HM Revenue & Customs (HMRC) polled 2,090 people and found that only 25% of those who recently made a gift had a working knowledge of the rules. Less than half (45%) were […]
The number of landlords living overseas who have come forward to voluntarily disclose tax avoidance on UK buy-to-lets has risen by over 60% in the past year. HM Revenue & Customs (HMRC) as part of its ‘Let Property Campaign’ has sent out thousands of letters to those living abroad who may have British tax liabilities, […]
From 6 April 2020, anyone selling a residential property will be required to settle any Capital Gains Tax (CGT) charges within a new 30-day payment deadline. Taxpayers will no longer be able to pay any tax charges as part of self-assessment. Somewhat ironically, the tax payment date for a property sold between now and April […]
Businesses that flout their workplace pension duties face being subjected to random spot-checks by the Pensions Regulator. Employers that provide details to HM Revenue & Customs (HMRC) are having that data cross-referenced by the watchdog in an attempt to identify non-compliance with auto-enrolment. The checks are designed to identify businesses that are failing to enrol […]
Last Wednesday saw both Rugby and Leicester offices enjoying the glorious sunshine at the beautiful Mythe Barn in Atherstone, for our annual social and team building away day. This year we opted for more sedate activities than on previous occasions, and started the day working through various challenges presented by mobile escape rooms (in boxes). […]
