A new report has confirmed that a significant proportion of the UK’s Business Relief is being utilised to reduce the burden of inheritance tax. Business Relief can significantly reduce the…
Tax News
Wealthiest UK families save nearly £700 million a year in Inheritance Tax
A new report has found that a significant proportion of the UK’s Business Relief goes to those with more than £1 million in assets. Tax Justice UK, a campaigning organisation,…
Taxpayers’ bills delayed by payment on account errors
The Association of Taxation Technicians (ATT) has revealed that problems with HMRC’s IT systems earlier this year, relating to calculations for payment on account, mean that some taxpayers will not…
What happens if I want to start taking advantage of R&D tax credits?
In 2017/18 nearly 40,000 claims were made for Research and Development (R&D) tax credits in the UK, almost double the amount of the previous year. Businesses both large and small…
Are you eligible for R&D tax relief? We can help…
The Government created Research and development (R&D) tax credits to reward those companies in the UK that are investing in innovation. The credits offer a valuable source of income to…
Could a long running court battle prompt an Inheritance Tax review?
A long-running court case illustrates a key reason why a review of the Inheritance Tax (IHT) rules for individuals passing on pensions is long overdue. Although the focus for the…
MTD for VAT – relaxation on posting supplier statements
HM Revenue & Customs (HMRC) has updated its VAT notice regarding Making Tax Digital (MTD) for VAT to relax several of the digital recordkeeping requirements. One of the changes, secured…
Significant lack of awareness around gifting rules for IHT
A new report published by the National Centre for Social Research (NatCen) and the Institute for Fiscal Studies (IFS) has revealed a worrying lack of awareness about the Inheritance Tax…
EIS and SEIS tax relief funding passes £2.1 billion
A rise over the course of the 2017-18 tax year saw funding for the Enterprise Investment Scheme (EIS) and Seed Enterprise Investment Scheme (SEIS) tax reliefs pass the £2.1 billion…
IHT payments to the taxman hit all time high of £5.4 billion
Inheritance Tax payments have hit a record high, according to the latest figures released by HM Revenue & Customs (HMRC). Inheritance Tax (IHT) receipts grew by £160 million to a…
