10/25/2024
While this quarter has seen a slight decrease in overpayments compared to the last, it underscores the ongoing complexity and inefficiencies in the system when it comes to flexible pension withdrawals.
10/25/2024
16% of individuals are not reporting and paying the correct tax
10/25/2024
HMRC now has access to much more international data than ever before
10/24/2024
Four outstanding Black heritage entrepreneurs chosen from over 150 applications
10/24/2024
HMRC also confirmed that it will update the guidance included in the Pensions Tax Manual at PTM145200 with examples to reflect this.
10/23/2024
The creation of a new tax depends on how bold Reeves is and how much of the “black hole” is left to fill.
10/22/2024
This period of uncertainty has understandably led many clients to adopt a “wait and see” approach as they await the outcome of the upcoming Budget.
10/22/2024
For those with a combination of state and private pensions, the hit will be felt even sooner, eroding their incomes at a time when financial security is crucial.
10/22/2024
Ultra-wealthy individuals might move abroad if the tax system in the UK becomes too burdensome
10/21/2024
Yet more reports are now suggesting that the government is planning to increase the amount of money it raises in inheritance tax
10/18/2024
The UK-wide survey of 500 business owners with turnovers of £5m upwards reveals that nearly half (48%) would consider moving their businesses abroad if tax changes on October 30th were clearly unfavourable.
10/17/2024
Without a delay before implementation, higher CGT rates might encourage individuals to hold onto their assets longer
10/14/2024
The AIM is a sub-market of the London Stock Exchange that is designed to help smaller companies access capital from the public market.
10/14/2024
A UK transparency levy would kick-start global efforts to make it harder to conceal business ownership and beneficiaries
10/14/2024
Concern is growing that the government could damage the UK small-cap story by tinkering with business relief in its Budget.
10/11/2024
The previous system charged a wealth tax on a broader range of assets, including savings accounts, investment products, vehicles, jewellery, and art.
10/11/2024
Unless there is a delay before implementation, increasing CGT rates would likely only incentivise people to hold assets for the long term rather than result in a quick and immediate increase in revenue.
10/10/2024
We also reported that among the countries that vetoed the initial proposal in November 2023 – and lost to the majority who voted in favour of it – were the US, UK, and all EU member countries.
10/09/2024
The government really needs to start thinking about the consequential impact.
10/08/2024
But there is still speculation that Reeves may either reduce the tax-free cash limit or making pensions subject to inheritance tax