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Inheritance tax (IHT) is becoming an increasing concern for many UK families. With the nil-rate band of £325,000 and the residence nil-rate band of £175,000 frozen until 2030, more estates are being caught in the tax net due to rising property values. According to HMRC data, IHT receipts have surged to £8.2 billion from April...

Inheritance Tax (IHT) planning is undergoing significant changes in the UK, making it crucial for individuals to stay informed and proactive. Recent policy shifts and upcoming reforms are set to impact how estates are taxed, emphasizing the importance of strategic planning. Key Changes to Inheritance Tax (IHT): Frozen Thresholds: The IHT nil-rate band remains at...

HMRC is warning landlords against a specific tax avoidance scheme that claims to convert rental income into non-taxable loans. This scheme is under investigation and poses serious financial risks. Promoters suggest landlords can receive their rental income back as a loan without paying tax, but HMRC says this setup does not work and treats it...

The First-tier Tax Tribunal (ftt) has ruled that a rabbi who resided in the UK for most of his life, raised a family, and built up a property business in Manchester was UK-domiciled for tax purposes (Weis v HMRC, 2025 UKFTT 348 TC). He claimed he intended to make Israel his permanent home; however, the FTT found...

Trustees of the Saint George Educational Trust have been removed and replaced with interim managers, after the Charity Commission for England and Wales (the Charity Commission) found the chairman had allowed the charity’s bank account to receive donations from unknown sources, which were then transferred to entities unknown to the trustees. The misconduct was discovered...

As we approach 2025, it’s the perfect time to consider how you can optimize your tax planning strategies. Succession planning and Employee Ownership Trusts (EOTs) are two key areas that can help you ensure the long-term success and tax efficiency of your business. Whether you’re looking to pass on your business to the next generation...

Selling a probate home comes with its challenges, but the Stamp Duty Land Tax (SDLT) deadline adds an extra layer of urgency. Buyers eager to save on stamp duty may walk away if delays arise. Understanding these challenges can help sellers avoid losing potential buyers. What is a Probate Home? A probate home is a...

The UK government’s decision to abolish the non-domicile (non-Dom) tax regime marks a significant shift for international individuals living there. This change brings both challenges and new opportunities for those affected. Understanding the implications and exploring strategic solutions is essential to staying ahead. What Is the Non-Dom Regime? The non-Dom regime allowed individuals who are...

The UK tax authority, HM Revenue & Customs (HMRC), plans to introduce a financial reward system for informants who provide information about tax evasion. This initiative aims to enhance tax compliance and encourage whistleblowers to come forward by offering them a percentage of the recovered tax revenue. A New Approach to Tackling Tax Evasion Tax...

The UK tax authority, HMRC, has once again enforced IR35 tax rules, targeting a well-known football commentator. The Upper Tax Tribunal has upheld a £300,000 tax bill against the sports broadcaster for his contract work with Sky TV. This case highlights the strict application of IR35 regulations and the financial impact on freelancers in the...

The First-tier Tax Tribunal (FTT) has disallowed multiple dwellings relief from stamp duty for an annexe whose planning permission specified that it could be used only for ancillary purposes to the house. Together with the annexe’s lack of privacy, this implied it was not a separate unit of residential accommodation (Fitzgerald v HMRC, 2025 TC09415).

The UK government is considering making e-invoicing mandatory for businesses. This move aims to enhance efficiency, reduce fraud, and simplify tax compliance. The consultation seeks input from businesses on how best to implement this system. What is E-Invoicing? E-invoicing refers to the digital exchange of invoices between businesses and tax authorities. Unlike traditional paper or...

HM Revenue and Customs (HMRC) has announced a reduction in late payment and repayment interest rates, offering some relief to taxpayers and businesses managing their financial obligations. Understanding these changes can help individuals and businesses plan their tax payments more efficiently. Why has HMRC reduced interest rates? The changes in interest rates are directly linked...

The UK’s tax authority, HMRC, has recently intensified its scrutiny of companies owning residential property. This move aims to ensure compliance with tax regulations, particularly regarding Annual Tax on Enveloped Dwellings (ATED) and Capital Gains Tax (CGT) obligations. Property – owning companies must now ensure their tax affairs are in order to avoid penalties.  ...

Starting 5 April 2025, significant changes will affect sole traders and company directors regarding their Self-assessment tax returns. The UK government has enacted legislation mandating additional disclosures to enhance transparency and accuracy in tax reporting. Key Changes for Sole Traders For sole traders, the new requirements focus on the commencement and cessation of trading activities:...

Cryptocurrency is a growing asset class, but many individuals overlook its importance in estate planning. Unlike traditional assets, digital currencies require special considerations to ensure they are accessible and protected after an owner’s passing. Without proper planning, beneficiaries may struggle to recover these valuable assets. Why Cryptocurrency Estate Planning Matters Unlike cash or property, cryptocurrency...

Inheritance Tax (IHT) can significantly burden families and businesses, but Agricultural Property Relief (APR) and Business Property Relief (BPR) have traditionally helped reduce liabilities. Recent discussions on reforming these reliefs have raised concerns for farmers and business owners. Understanding these changes is essential for effective inheritance tax planning and ensuring tax-efficient asset transfers. Understanding Agricultural...

The UK government has reported record-high inheritance tax (IHT) receipts, largely due to the continued freeze on thresholds. With property values rising and tax-free allowances unchanged, more families are now facing increased tax liabilities. According to a Euronews report, the total IHT receipts have reached unprecedented levels, raising concerns among taxpayers. Why Are UK Inheritance...

How to Avoid a Will Dispute Creating a Will is essential for ensuring your estate is distributed according to your wishes after passing. However, disputes over Wills are more common than you might think. Family disagreements, unclear instructions, and questions of legality can all lead to challenges in court. Taking a few proactive steps can...

In FS Capital v Adams (2025 EWCA Civ 53), the England and Wales Court of Appeal ruled that transactions carried out by FS Capital Ltd were void because they constituted a breach of three insolvent Jersey trusts that held substantial loan assets. The transactions cut out the beneficiaries and diverted the assets to a company under...