Oct 3, 2024 | Personal Tax
A recent poll revealed that half of the public still opposes increasing inheritance tax (IHT) rates, while two-thirds believe the £325,000 threshold should be raised. Despite this, only 24,500 estates (4.39% of estates in the 2021/22 tax year) were liable for IHT...
Sep 27, 2024 | Personal Tax
The Treasury is reassessing parts of Labour’s manifesto plan regarding the abolition of the non-domicile (non-dom) tax status, amid concerns over how much revenue it would actually raise. There are fears that wealthy individuals may simply leave the UK, undermining...
Sep 25, 2024 | Personal Tax
Although many expect a rise in capital gains tax (CGT) rates to be announced in the October 2024 Budget, data shows that the reduction in CGT rates has increased receipts. HMRC data reveals that the recent cut in CGT for residential property transactions from 28% to...
Sep 11, 2024 | Personal Tax
HMRC isyet to resolve an issue affecting graduates with student loans who complete self assessment and receive benefits-in-kind (BIKs). This problem, identified over a year ago, has led to some taxpayers being overcharged on their student loan repayments. The issue...
Sep 5, 2024 | Personal Tax
Many non-domiciled residents, or non-doms, are considering leaving the UK in response to proposed tax reforms, including abolishing non-dom status. Originally announced by the Conservative Government, Labour has since expanded the scope of these changes, including...
