Capital Gains: Separation and transfer of assets

Capital Gains: Separation and transfer of assets

For separating or divorcing spouses, HM Revenue & Customs (HMRC) has announced important changes to Capital Gains Tax rules relating to transfer of assets. Currently, assets transferred between cohabiting spouses and civil partners are subject to “no gain or no

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VAT efficiency for cost-sensitive SMEs

VAT efficiency for cost-sensitive SMEs

The ‘charge and claim’ cycle associated with Value Added Tax (VAT) often becomes a routine part of running a business but, with VAT contributing significantly to Government’s annual tax receipts, opportunities to improve VAT efficiency should not be overlooked. Cash

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Non-domicile or non-sense

Non-domicile or non-sense

Once again, tax has been making the news with the Chancellor’s wife, Akshata Murty, dominating headlines as a result of her non-domicile status. The quality of the reporting I have come across on this topic, so far, has been poor

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IHT reporting requirements – What’s changed?

IHT reporting requirements – What’s changed?

On 1 January 2022, changes to Inheritance Tax (IHT) reporting requirements came into force via The Inheritance Tax (Delivery of Accounts) (Excepted Estates) (Amendment) Regulations 2021. The changes themselves are fairly technical in nature. To go into too much detail

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Probate & Estates: Common misconceptions

Probate & Estates: Common misconceptions

Despite the fact that many of us will, unfortunately, need to navigate Probate in our lifetime, misconceptions about the process are common. After all, why would you concern yourself with it before you need to? Whilst a fair point, misunderstanding

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‘Winter Economy Plan’ unveiled as Budget is scrapped

‘Winter Economy Plan’ unveiled as Budget is scrapped

Last month, the Chancellor unveiled his ‘Winter Economy Plan’ after scrapping plans to deliver an Autumn Budget this year. With ‘difficult winter months’ ahead, Rishi Sunak announced a handful of new business support measures. The hope, is that these will

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