Tax Blog

OTS Capital Gains Tax Review Published 20 May 2021

On 20 May 2021 the OTS, the Office for Tax Simplification,  published its second report into capital gains tax (CGT) after being requested by the Chancellor  to review the law in 2020. Fourteen recommendations have been made by the OTS…
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How are HMRC’s Tax Receipts holding up in 2021?

Not so badly under the circumstances according to HMRC!!! The pandemic has taken a toll on tax revenues as the latest figures show total tax receipts for the tax year 2020 to 2021 are £584.3bn, a significant £49.1bn lower than…
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HMRC Unsuccessfully Challenges Tax Reducing Rectification

The England and Wales High Court (EWHC) has agreed to rectify two deeds of appointment made in 2013 that mistakenly terminated Nicholas Ware’s life interest, a qualifying pre-March 2006 life interest, in the assets of his late father, when they…
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Budget 2021: Private Client Matters

What conclusions can we draw from the 2021 Budget with respect to inheritance tax and capital gains tax? Tax Revenues Will Rise The effect of the private client Budget changes, which are briefly set out below, is significant because in…
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