Stephen Parnham Taxation Limited
Cheltenham Chartered Tax Advisers
Advising throughout the UK
The current crisis is completely absorbing for most of us but there are, nevertheless, important tax changes which it is well to remember will be effective in a few days time. From 6 April 2020 a minor overhaul of capital…
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Covid 19, Wills & Tax Planning Ian Bond TEP, chair of the Law Society’s wills and equity committee, recently stated to the Daily Telegraph that levels of requests for will drafting are now up 30 per cent. That corresponds to what I have…
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After several months of noise regarding changes to inheritance tax Rishi Sunak’s budget avoided even tentative adjustments to the tax altogether. Headline predictions included a reduction of the rate from 40% to 10%, removal of lifetime gifting allowances, and the…
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HM Revenue & Customs has created a somewhat secretive and shadowy unit to investigate the use of family investment companies , sometimes known as FIC’s, to avoid paying inheritance tax. The unit was set up the team in April…
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Inheritance Tax in the New Era: 2020 When Sajid Javid, the Chancellor of the Exchequer, hinted at the 2019 Conservative Party conference that scrapping inheritance tax ‘was on his mind’ he was merely taking his place in a long…
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It was on November 13th, 1789, that Benjamin Franklin wrote in a letter to Jean-Baptiste Leroy a phrase that has reverberated ever since: “Our new Constitution is now established, and has an appearance that promises permanency; but in this…
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As the number of trusts and estates have continued to fall, trustees should be taking advice about the increasing scope of the trust register, as implied in my post of 1 October. Trustees now have less than six months tp prepare…
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Statistics released by HMRC this week show a fourth consecutive year of decline in the number of trusts in the UK. This is the continuation of a trend which over the last decade or so has seen the total number…
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Bringing taxation on assets in line with the regime for income tax could raise £90bn over five years, according to a recent report from the Institute for Public Policy Research (IPPR) which is calling for the removal of the capital…
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Some 40% of people do not know how much money can be passed on free of inheritance tax (IHT), research from Zurich has found. Statistics from the provider also showed 36% of over 55s did not know how much they…
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