Last month the Office for Tax Simplification (OTS) published recommendations for the simplification of Value Added Tax (VAT). The long-awaited report followed feedback from trade associations, businesses, professional bodies and individuals. The consensus is that VAT, a tax invented in
Yesterday afternoon The Chancellor, Philip Hammond, delivered his first and last Spring Budget, giving a promising speech in which he altered very little within the tax system promoting a level of stability that we, as accountants, can only approve of.
Many people face bills of tens or even hundreds of thousands of pounds with inheritance tax currently being charged at 40 per cent and in the last year alone, the number of estates liable to pay IHT has risen by