- Managers of Wealth - Europe - Wealth, private banking and asset management news and opinion

Company loses tax case on the meaning of life

HMRC determined that Lexgreen was liable for the tax because it established the trust and the trustees were based outside the United Kingdom.

Overpaid pension tax claims jump 20% and ‘could get worse’

Of those who claimed overpaid tax, 2,400 people received refunds of more than £10,000

Thousands of pensioners claim back more than 10k after being overcharged

A small number of individuals in the UK received refunds exceeding £100,000.

Experts warn Rachel Reeves’ rumoured property tax proposals could push more HNWs to leave UK

Main residences are currently exempt from capital gains tax, a charge on the increase in the value of an asset when it is sold.

Frozen thresholds keep boosting tax receipts but Autumn Budget may demand more

Any reform must balance revenue goals with the vital role intergenerational support plays in the UK economy.

Ningi launches IHT tool amid incoming changes

This tool went from concept to comprehensive solution in under a week

Accountancy firm adds third office in High Wycombe through acquisition

Chimes Accountancy Services now joins the team at Dux Advisory, which also has an office in Berkhamsted, Hertfordshire.

Accountants and financial advisers’ clients struggle with tax bills

Trouble paying income tax bills saw the biggest increase, identified by 70% of those questioned.

How to reduce your Inheritance Tax bill

Nobody wants HMRC to be their biggest beneficiary. Find out how you can reduce your IHT bill – and leave more to your family.

UK tax data reportedly suggests claims of non-dom exodus overblown

HMRC figures appear to indicate departure of high net worth people is in line with OBR predictions, report says

Rumoured lifetime gifting cap risks stifling intergenerational support and adding complexity to tax system

Such a cap would bring more gifts into scope for IHT and could capture not just large transfers designed to reduce tax bills but also modest, routine support between family members.

Both left and right agree taxes must rise. Time for Labour to get creative

The faux row will be ear-splitting whether Rachel Reeves takes a lot or a little. Scepticism about a wealth tax is rising, but there are many ways to skin fat cats

Scottish Government gave £77m to secretive tax haven firms

Campaigners and the Scottish Greens want the public funding of tax havens to be banned altogether.

HMRC charges first company under landmark tax evasion powers

Stockport accountancy firm becomes first to be charged under law brought in eight years ago

Tax rises are coming — and UK asset holders must act now

This is the moment for anyone with UK assets to stop waiting and start acting.

Italy introduces 5% VAT rate on art sales and imports: A strategic boost for the art market

Each transaction must therefore be carefully assessed to determine the applicable VAT regime

Number of savers paying tax on interest quadruples as frozen allowances bite

The rise comes as interest rates have soared and the Personal Savings Allowance has remained frozen for over nine years.

HMRC error leaves thousands blocked from getting mortgages

Without them, many self-employed workers are effectively frozen out of the housing market, unable to prove they can afford to buy.

Nearly 3m savers to be hit by tax bill this year as more fall into the net than previously forecast

It means the number of people paying tax on their savings income is set to quadruple in just four years.

Pension tax overpayments continue to be a scourge despite HMRC efforts

The idea behind HMRC’s new tax coding process is that it should reduce the administrative burden on savers, while also minimising the number of overpayments being made in the first place.