Residence Nil Rate Band 2019/20 and the Family Home

Residence Nil Rate Band 2019/20 and the Family Home

Richard Coombs explains how the Residence Nil Rate Band and Inheritance Tax (IHT) apply to your family home. “As many people know, everyone gets a “nil rate band” to use against the total value of their taxable estate when they die.  Currently this is £325,000...
Loan Charge Review Published

Loan Charge Review Published

On 20 December the much-anticipated review of the controversial Loan Charge legislation was published.  Whilst there is welcome news for some, there are as many questions as answers and for many people, until further guidance is provided by HMRC, there is still no...
Entrepreneurs’ Relief Post Election?

Entrepreneurs’ Relief Post Election?

What will happen to Entrepreneurs’ Relief post Election? There has been plenty of media coverage of the spending and revenue raising plans contained in the main parties manifestos.  Our tax team have been considering whether there are steps that can be taken to...
CGT due within 30 days of completion on residential sales

CGT due within 30 days of completion on residential sales

From 6 April 2020, the due date for payment of any CGT (Capital Gains Tax) arising from the sale of any residential property will be 30 days from the date of completion. This is a significant change.  Previously the CGT due date would have been  31 January following...
Treasury delays Loan Charge report

Treasury delays Loan Charge report

As a result of the impending General Election, the Government yesterday announced a short delay to the publication of the much anticipated loan charge report following the independent review into the controversial loan charge legislation. In a letter to Sir Amyas...