Tax and Financial Planning

Hard on the heels of the announcement that the amount of bank deposits guaranteed to be reimbursed in the event of the failure of a covered financial institution is to...

The Finance Bill currently in Parliament will confirm that HM Revenue and Customs (HMRC) are to be given the right to seize money directly from the bank accounts of taxpayers...

Gifts made more than seven years before the death of the donor do not generally attract a charge to Inheritance Tax (IHT) on the donor’s death. However, where the...

When undertaking tax enquiries, HM Revenue and Customs (HMRC) are well known for embarking on ‘fishing expeditions’ for information. In a recent case, a company which was under enquiry for...

When an accountant failed to file a client’s year-end PAYE return, the first inkling the director of the company involved had of it was many months later – when the...

HM Revenue and Customs (HMRC) have traditionally taken a very tough approach regarding time limits, and many cases arising out of HMRC’s failure to accept what the taxpayer claimed was...

The tax tribunals are not generally known for a free and easy approach to issues. They do, however, have a degree of discretion to correct obvious errors and a recent...

Clients are warned that the new pension reforms, which now allow pension funds to be treated almost like a personal piggy-bank, are likely to lead to an upswell in attempts...

It is not always appreciated, but HM Revenue and Customs (HMRC) will not hesitate to bring criminal proceedings when tax evasion is significant, as the jailing of a woman who...

A man who received a significant gift from his father before he died but failed to declare it for inclusion on the Inheritance Tax (IHT) return to HM Revenue and...