Tax Blog

HMRC nets record £5.3bn in inheritance tax

HMRC collected a record £5.3bn in inheritance tax in the year to February 2018, according to private client law firm Wilsons. The revenue authority’s inheritance tax take increased by 13% compared to the £4.7 billion collected in 2016/17. Wilsons said…
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Ken Dodd – ”Self -Assessment, I invented that”

The Last Laugh? Two days before his death the comedian married long-term partner Anne Jones, with whom he had shared his Liverpool home for the past 40 years. While the couple were reportedly delighted to have finally tied the knot,…
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Simplifying Inheritance Tax: The Latest!

The Chancellor Philip Hammond has written to the Office of Tax Simplification (OTS) asking it to carry out a review into inheritance tax, which he said is “particularly complex” at present. In the letter, addressed to OTS chairman Angela Knight…
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Best late tax returns excuses and expense claims

HMRC has exposed the most original excuses for late tax return and expense claims ahead of the 31 January deadline From being too busy touring the country to claiming to seeing aliens, the following excuses were all used in unsuccessful…
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Millennials to secure ‘inheritance boom’! Or Will They???

Millennials will benefit from the biggest “inheritance boom” of any post-war generation, but it will be too late to solve housing issues and wealth inequality, a recent report says. Those who have parents and grandparents in the “baby boomer” generation…
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The Future of Inheritance Tax Reliefs

HM Revenue & Customs has published research that was carried out independently on its behalf looking at the awareness of, and use made of, Agricultural and Business Property Relief (APR and BPR) for Inheritance Tax. It seems likely that this…
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Autumn Budget next Wednesday

The Autumn Budget will be announced next Wednesday (22 November). Measures likely to be in it include: legislation to transfer non-resident companies currently subject to income tax and/or capital gains tax on UK property businesses into UK corporation tax; anti-avoidance…
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