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Details of the new late submission penalties, late payment penalties and harmonised interest announcements were published, as anticipated, in the 2021 Budget tax related documents.

Many businesses either acquire or merge with other entities, or sell a part or all of their trade or assets.

The events of the last year have focused our minds, leading many people to review or write their wills. However, the will is only one part of dealing with an estate.

In my first article in the March issue of Tax Adviser, I considered how home loan arrangements were set up and HMRC’s historic attack on them.

The final regulations enacting the EU’s Fifth Money Laundering Directive (5MLD) into UK law took effect from October 2020.

The home loan scheme (or, as it is sometimes known, the ‘double trust’ scheme) became a popular way of avoiding inheritance tax on the family home in the early 2000s.

If you are appointed as a trustee, it is important to understand clearly the position you have accepted. 

Funded unapproved retirement benefit schemes (FURBS) and funded employer-financed retirement benefit schemes (EFRBS) are unapproved pension schemes that were funded with employer contributions

If you are appointed as an executor when the appointment is unexpected or you have not carried out the role before, it is likely you will have a lot of questions.

In July 2019, the Office of Tax Simplification (OTS) released its second report on simplifying the design of inheritance tax (see  bit.ly/3qe8jsA).