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The key point to note is that in light of the changes to reliefs for inheritance tax, individuals should now review their succession planning strategy to ensure that their transfer of weal

Imagine a world where all your meals are cooked for you, your home is cleaned each week, you visit dozens of countries a year and you may also have no liability to income tax.

From HMRC’s point of view, there are three main ways an individual can be assessed to income tax:

From 14 October 2024, people who want to claim tax relief on employment expenses using form P87 also have to provide supporting evidence.

In the June issue of Tax Adviser, I reported on the Cooke case (‘Two DP or not two DP, that’s the problem’), where an individual was able to secure a claim for entrepreneurs’

As readers will be aware, it is usually possible to make voluntary National Insurance contributions (NICs) going back up to six tax years (SI 2001/769, reg 4(3)–(5)).

This article explains how a deceased estate is taxed during the administration period.

Budget Special

It is impossible to write about the Budget, given its timing.

Making Tax Digital for Income Tax Self-Assessment (MTD ITSA) is now less than 18 months away, with taxpayers with income over £50,000 mandated from 6 April 2026.

Broadly, carried interest is the allocation of an equity fund’s profit share paid to investment managers in connection with their management activities.