The recent increase in Capital Gains Tax (CGT) rates has spurred interest among clients seeking alternative strategies. A noteworthy option gaining traction involves introducing a holding company. If executed with a strong commercial rationale, this approach can minimise immediate tax liabilities while offering long-term financial and tax efficiency. Let’s delve into this solution and its… Read more »
There are some specific strategies to help protect your family’s assets, building on last week’s general tax planning advice. Here are some essential actions you can take to mitigate your inheritance tax burden under the new rules following the 2024 Budget. (Read Time: Approx. 4 minutes) Topics Discussed: Changes Following the Budget 2024 Rachel Reeves… Read more »
Stamp Duty Land Tax (SDLT) is an important consideration for anyone purchasing property in England and Northern Ireland. Understanding the specifics of how SDLT applies to residential dwellings can help avoid unexpected costs and ensure compliance with the latest regulations. (Read Time: Approx. 4 minutes) Topics Discussed: SDLT Rates and Applicability SDLT is a tax… Read more »
The latest UK budget introduces significant shifts for employers, taxpayers, and investors, with changes in National Insurance, inheritance tax reliefs, and new taxes for non-domiciled residents. These adjustments, set to start from April 2025, will affect both small businesses and individual taxpayers, presenting new financial planning challenges and opportunities. (Read Time: Approx. 4 minutes) Topics… Read more »
The latest UK budget introduces significant shifts for employers, taxpayers, and investors, with changes in National Insurance, inheritance tax reliefs, and new taxes for non-domiciled residents. These adjustments, set to start from April 2025, will affect both small businesses and individual taxpayers, presenting new financial planning challenges and opportunities. (Read Time: Approx. 5 minutes) Topics… Read more »
In a decisive move, HMRC has escalated its enforcement efforts against fraudulent Research and Development (R&D) tax relief claims. Recent months have seen a wave of dawn raids and arrests targeting unscrupulous advisors suspected of enabling businesses to submit fraudulent claims. This crackdown serves as a stark reminder for businesses to ensure full compliance with… Read more »
When it comes to inheritance tax (IHT), landlords often encounter complicated regulations and uncertain tax burdens. Recent speculation about potential changes to IHT and capital gains tax (CGT) makes this even more pressing. Some advisers may suggest strategies that claim to shelter property shares from IHT entirely, but this is rarely achievable. The truth is… Read more »
With private school fees on the rise and the anticipated removal of VAT-exempt status in 2025, families across the UK are looking for ways to manage these increasing costs. While there’s no direct tax relief for private education, there are several strategies that can reduce the financial burden, including intergenerational gifting, family businesses, and tax-efficient… Read more »
The landscape of tax relief claims is changing rapidly, with HMRC implementing new requirements for PAYE employment expense claims to tackle ineligible submissions. This blog provides a clear overview of these updates, outlining what you need to know to stay compliant with the evolving rules. (Read Time: Approx. 4 minutes) Topics Discussed: Understanding the Shift… Read more »
The UK’s car market experienced a notable rise in September, with the spotlight shining brightly on electric vehicles (EVs) and hybrid vehicles. New figures highlight a significant uptick in demand, marking a record-breaking month for battery electric vehicle (BEV) sales. (Read Time: Approx. 4 minutes) Topics Discussed: UK Car Market Rebounds with Record EV Sales… Read more »
