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In the second part of this series on inheritance tax, we outline the significant changes to UK inheritance tax rules effective from April 2025, focusing on the replacement of domicile with long

Each year, the House of Lords Economic Affairs Finance Bill Sub-Committee conducts an inquiry into specific aspects of the draft Finance Bill, taking written and oral evidence to produce an apo

On 11 December 2024, CIOT and ICAEW published a joint report ‘Tackling HMRC’s customer service challenge’, following a six week study which involved our members recording their attempts to cont

Ahead of each UK Budget, HM Treasury invites interested stakeholders to submit formal Budget representations on potential changes to be considered by the Chancellor when preparing the Budget.

The transfer of assets abroad (ToAA) code is a cornerstone of the UK’s anti-avoidance regime, designed to prevent individuals from avoiding UK income tax by transferring assets to persons abroa

The 2024 Budget announced several major changes for inheritance tax, marking a radical reform of this tax akin to the 2006 changes for trusts.

The consultation proposed two different approaches to reform:

The CIOT response

The CIOT supports the aligning of appeals processes between direct and indirect taxes because it would help to mitigate the confusion and misunderstandings that&n

The CIOT response

The CIOT supports the government in taking a robust approach to those who continue to devise, promote or sell mass-marketed tax avoidance schemes.

The consultation can be found on GOV.UK here: tinyurl.com/3kpz2puf