Significant changes to Inheritance Tax (IHT) were announced in the Autumn Budget, however there are steps that can be taken in most cases to reduce or eliminate increased IHT liabilities.
While the Autumn Budget 2024 will have come as a seismic shock to many farming businesses, it’s important to take the time to properly digest the announcements, take the appropriate advice, and consider the alternatives.
Even with the inflationary economic climate calming down, base interest rates remain relatively high and many businesses are experiencing rising costs. Cue the Budget 2024 and further costs pressures are set to come in 2025.
Armstrong Watson, is proud to announce the launch of its new Cyber Security Solutions service. This innovative service is designed to help businesses navigate the complex landscape of cyber risk and enhance their cyber security measures.
Safeguarding your business’s key assets is vital to ensure you are protected in the face of unforeseen events. Business protection is not just about securing physical assets or intellectual property; it’s about protecting the very people who drive the business forward.
With the Furnished Holiday Let (FHL) regime set to be abolished from April 2025, and the detail of the changes and draft legislation now published, holiday lettings owners can look at their options. If you are planning to dispose of your furnished holiday let, you will need to consider various factors that will impact your tax liability.
The impact of the Autumn Budget on the not-for-profit sector was mixed at best. While there were announcements of public sector funding increases in specific areas, such as social care, children’s services, and SEND, these increases are broad and won’t be available to ‘bank’ for many in the third sector just yet.
Selling or transferring agricultural land and farms can have significant tax implications, particularly concerning Capital Gains Tax (CGT) and Inheritance Tax (IHT). Given the changes announced in the Autumn Budget 2024, it is important to consider the current rates and the implication of future increases.