Latest News

30 day deadline to report residential property CGT

Recently, I’ve highlighted the new 30 day reporting rule for Capital Gains Tax (CGT) which applies to disposals of residential property from 6 April 2020. As we draw closer to the start of this fundamental change in the tax reporting requirements it is important that anyone who may be planning a sale or gift of residential property in the UK from this date is aware of these changes.

UK Agriculture Industry - Planning for the Unknown

UK Agriculture businesses need to understand their business in preparation for the impact following Brexit 

Understanding your Cash Flow and Tax Payments

What is cash flow and tax planning, and why is it important for farming businesses to understand?

Boris’s Proposed Brexit Deal: Customs, VAT and the Irish Border

“So the Government has finally published Boris Johnson’s detailed proposals to deal with the vexed question of the Irish border, the fundamental issue which must be resolved if the UK is to leave the EU with a deal on 31 October, or possibly indeed if we are to leave on that date at all.

The coming days will reveal what politicians and the EU will make of the plans and what will emerge, but what would the proposals mean in practical terms? These would of course take effect at the end of a two year transition period.

10 reasons to make a will

What do Abraham Lincoln, Howard Hughes, Pablo Picasso and Jimi Hendrix all have in common? Apart from being famous, they all died without making a will. However it’s not just the rich and famous that don’t get around to making a will. Recent research indicates that more than 50% of UK adults don’t have a will. I often remind clients to make or update their will to ensure that their estate is left to the people they want it to go to. This is advice which cannot be repeated too often.

Here are ten good reasons to make a valid will:

UK Tax Implications post Brexit

Jim Meakin discusses the tax implications for UK businesses following Brexit on 31st October 2019.

Compulsory purchase of land and Capital Gains Tax

There are Capital Gains Tax (CGT) consequences to consider when land is sold under a Compulsory Purchase Order (CPO). A sale like this may be involuntary and this is recognised by the tax system. This is by way of a form of rollover relief, which is similar but crucially different to that available to all trading businesses.

The increasing cost of death

The Taxpayers’ Alliance recently published its report on the cost of dying. The report looks at the taxes and charges which arise on death and concludes that it is becoming more expensive.

Where next for Inheritance Tax?

The Office of Tax Simplification (OTS) has made several announcements around tax legislation which could adversely affect farmers and other rural businesses in the coming years.

Will Inheritance Tax be simplified?

The Office of Tax Simplification (OTS) recently published its second report on making Inheritance Tax (IHT) simpler to understand and have proposed a range of recommendations. _­