30 September 2024
Budget predictions: Protect your wealth before it is too late
This has been one of the most anticipated / dreaded budgets for some time, with clear noises coming from Rachel Reeves that she is going to tax wealth. This has led to panic amongst anyone with investments, cash, valuable property, businesses and pensions. What does it mean for them and what should they do before the budget?
16 September 2024
Brace for impact: How to navigate the 2025 property tax shake-up
The new Labour government is expected to announce significant tax increases in the upcoming October budget. This follows Chancellor Rachel Reeves' revelation of £22 billion in unfunded spending.
9 September 2024
HMRC sets sights on IHT
Inheritance tax liabilities for the tax year 2021 – 2022 were the highest ever recorded at £5.99 billion, as confirmed by annual statistics issued by HMRC on 31 July 2024. Given the sums involved, it is unsurprising that inheritance tax is a particular area of focus for HMRC investigations, which are reported to have resulted in recoveries of £1.39billion in underpayments of inheritance tax over the past five years.
27 August 2024
Get Onbord Limited - hocus pocus about locus?
The recent decision in Get Onbord Limited v HMRC [2024] UKFTT 617 (TC) provided some helpful guidance for taxpayers and HMRC on the First-tier Tribunal’s (“FTT”) approach to research and development (“R&D) claims and in particular, the levels of evidence that both parties need to provide.
30 July 2024
Selling soon? Keep tax in mind
The Chancellor’s statement yesterday highlighted a black hole in public finances. The Chancellor also reaffirmed Labour’s commitment not to raise income tax, NICs or VAT (beyond the addition of VAT to private school fees paid from yesterday in relation to the school term staring in January 2025).