More recent posts
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IHT receipts jump £600m year-on-year
HMRC has published data showing Inheritance Tax (IHT) receipts reached £3.6bn between April 2021 and October 2021 – £600m higher than in the same period in 2020. The…
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Is the scope increasing for ‘one to many’ letters?
HMRC appear to be sending ‘one to many’ (OTM) letters for a growing number of reasons, including employment income, foreign tax and crypto assets. What are OTM letters?…
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Tax changes for limited companies holding residential property
The Annual Tax on Enveloped Dwellings (ATED) was introduced nearly 10 years ago. Before April 2022 though, the legislation will require important revaluations to be carried out. The…
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Considerations after exiting your business
The transaction has been finalised and the business has been sold. With a large amount of cash now in your possession, what are your next steps? There are…
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Rental income under spotlight from HMRC
HMRC appear to be intensifying their efforts to clamp down on current or historic undeclared rental income, highlighting the need for individuals to bring their affairs up to…
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Autumn Budget 2021: At a glance
Chancellor Rishi Sunak has delivered the Autumn Budget 2021. In this summary we provide some details of the tax changes announced that will be of interest to owner-managed…
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Success and succession… a difficult balancing act
With careful planning, family wealth created by one generation can be protected and grown for future generations to thrive. Where is your wealth held? An important aspect of…
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HMRC shift furlough focus
The Government’s Coronavirus Job Retention Scheme (CJRS) scheme ended at the end of September. HMRC’s attention will now turn to reviewing the accuracy of the claims made. It…
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Is a wealth tax the answer?
A one-off ‘wealth tax’ has been discussed as a potential method to raise significant revenue in the UK, but would it be practical? A Wealth Tax Commission (WTC)…