Tax Blog

Third-Party Notice Powers: No Right of Appeal?

There are circumstances where HMRC has a legitimate need to directly approach financial institutions to obtain tax related information where taxpayers are unwilling or unable to do so.  As things stand, HMRC has the power to issue a Schedule 36…
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Gift Ruled to be a Transfer of Beneficial Ownership

This is an interesting case for anyone involved in issues/disputes over legal and beneficial ownership.  It includes a useful review of relevant case law and clearly emphasises the importance of the circumstances and facts. The England and Wales High Court…
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Lockdown & Wills: The Latest

Lockdown has prompted the government to update the 183-year-old rules on witnessing wills. But some solicitors think reform is unnecessary and risks creating a contentious probate spike. Wills have stubbornly resisted the digital world. While many legal documents, including deeds…
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Office of Tax Simplification to review CGT 

The Chancellor has asked the Office of Tax Simplification (OTS) to undertake a review of capital gains tax (CGT) and aspects of the taxation of chargeable gains, in relation to individuals and smaller businesses. In his letter commissioning the review,…
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Inheritance Tax, Crucial Reliefs & Covid 19

Many thousands of people in the UK have lost their lives during the Covid-19 pandemic and about 5% of those deaths will probably result in an inheritance tax charge.   Inheritance tax is charged on the estate of a deceased…
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What issues does Covid-19 raise for Estate Planning in 2020?

Massive public spending during the Covid-19 crisis means the government will almost certainly increase taxes in the short to medium term. Additional austerity seems implausible and government borrowing is already stretched. The government will be emboldened in its revenue-raising task…
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Covid 19 & Tax Planning

By the time we emerge from the Covid 19 crisis the UK will be vastly more indebted. Households, companies and the state will be carrying much more debt and be much more risk averse.  The Bank of America believes the…
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