Posted in General
The government has published the draft legislation for Finance Bill 2020-21, along with accompanying explanatory notes, tax information and impact notes. The consultation on draft clauses is intended to make sure that the legislation works as
Continue readingPosted in Inheritance Tax
Inheritance Tax (IHT) is levied on a person’s estate when they die and can also be payable during a person’s lifetime on certain trusts and gifts. The rate of Inheritance Tax payable is 40% on death and 20% on lifetime gifts. IHT is
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The government has confirmed allocations for individual councils in England from the £500 million of additional support for Coronavirus-related spending pressures. This further injection sees a total of £4.3 billion in direct funding to
Continue readingPosted in Capital Gains Tax
The Chancellor, Rishi Sunak has written to the OTS (Office of Tax Simplification), asking the OTS to undertake a review of Capital Gains Tax (CGT) and aspects of the taxation of chargeable gains in relation to individuals and smaller businesses. In
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