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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Are Over-50’s ‘Cutting Back’ to Leave an Inheritance?
Possibly!!! According to new data from Populus, nearly half of people aged over 50 are willing to forgo luxuries in later life to leave a larger inheritance for their children. The study, commissioned by Saga Money, also found that 80…
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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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Lawyers among most stressed – It’s Official
Lawyers are among the most stressed professionals in the UK, government figures show – and women are the worst affected. Statistics published by the Health and Safety Executive on work-related stress, depression or anxiety place ‘legal professionals’ third in a…
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Half of accountants unhappy at work
Accountants were the fourth most affected professionals by low job satisfaction, just behind marketing, legal and hospitality professionals, a CV-Library survey of 1,200 professionals found. Of those working in the accounting sector, 70.8% have had a job that made them…
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Association of Taxation Technicians Calls For Trusts Register Delay
The Association of Taxation Technicians (ATT) in the UK has called for an extension to the trust register deadline. New anti-money laundering regulations introduced in June 2017 require most trusts to retain written records of the individuals involved in the…
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Complicated Inheritance Tax Take Goes Up Despite New Nil Rate Band
The Treasury’s inheritance tax take is up by nearly 20% despite a new relief designed to save families paying death duties. HM Revenue & Customs figures show estates paid almost £2.4 billion in inheritance tax between April and August this…
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Forced sale of home and very short period of occupation did not disallow capital gains tax principal residence relief
During the financial downturn in 2008, a taxpayer had no option but to take out a buy-to-let mortgage to support his continued ownership of a property as no other type of finance was available to him. Contrary to the lender’s…
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