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Latest News:

Inheritance tax due for a shakeup

The government has tasked the department charged with simplifying our present tax system with taking a fresh look at inheritance task. The scope of their review has just been published. It says: The review will consider how key aspects of the current IHT system work and whether and how they…

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Requirement to correct tax due on offshore assets

A new legal requirement is included in the Finance (No. 2) Act 2017 that creates an obligation for anyone who has undeclared UK tax liabilities that involve offshore matters or transfers to disclose the relevant information about this non-compliance to HMRC by 30 September 2018. Failure to disclose the relevant…

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This takes the biscuit

In a recent hearing before a tax tribunal, HMRC led the charge to insist that bicarbonate of soda (BoS) was a chemical not a food of a kind used for human consumption. Why was this important? HMRC had issued an assessment amounting to £291,000 to hapless food company, Phoenix Foods…

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