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By Dan Cozens

5th November 2024

Capital Gains Tax and Inheritance Tax on agricultural land and farms

Selling or transferring agricultural land and farms can have significant tax implications, particularly concerning Capital Gains Tax (CGT) and Inheritance Tax (IHT). Given the changes announced in the Autumn Budget 2024, it is important to consider the current rates and the implication of future increases.

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By Justin Rourke

5th November 2024

Don’t panic! Unpacking the 2024 Autumn Budget

There are two clear headlines for financial planners and our clients from the Autumn Budget - unused pensions are to become subject to Inheritance Tax, while Capital Gains Tax rates have increased and the ISA allowance was ignored. 

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By Armstrong Watson

4th November 2024

10 pitfalls to avoid when applying Business Asset Rollover Relief

Business Asset Rollover Relief allows you to defer paying Capital Gains Tax (CGT) when selling land, buildings or fixed plant and machinery by purchasing a new qualifying asset. However, like many areas of tax, it is not that simple.

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By Armstrong Watson

2nd November 2024

Furnished holiday letting tax incentives to end in 2025

Holiday let owners are set to lose favourable tax reliefs from April 2025 meaning all property income (FHLs and residential properties) will be treated the same.

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By Matthew Hutton

30th October 2024

Autumn Budget 2024: Impact on hospitality, leisure and tourism

The hospitality, retail and leisure sector has had a turbulent few years with increased costs and the post Covid boom cooling significantly in the past year; businesses would have been hoping from some good news from the Chancellor. 

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By Graham Poles

30th October 2024

Autumn Budget 2024: Capital taxes

The Chancellor delivered her long awaited first budget and with it has fundamentally changed the Inheritance Tax (IHT) reliefs that have existed for many years. As well as bringing more value into people’s estates through the inclusion of inherited pensions from April 2027, business and agricultural reliefs have also been reformed, making them less attractive.

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By James Fraser

30th October 2024

Autumn Budget 2024: A ‘corporate tax roadmap’?

Whilst the announcements will undeniably cause some pain, especially for businesses who will see their employment costs increase substantially, the reality is that at certain points during the build-up, the expected tax increases were forecast to be much larger than have materialised.

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By Karen Thomson

30th October 2024

Autumn Budget 2024: Payroll taxes

The recent budget announcement brought several significant updates to payroll and tax regulations, most notably to Employers’ National Insurance Contributions and the National Minimum Wage – both of which will have a significant impact on employers’ wage bills.

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By Becky Fraser

30th October 2024

Autumn Budget 2024: Non-dom tax reform

Under the current rules, UK tax resident non-domiciles who haven’t become deemed-domiciled can choose to be taxed on the remittance basis. Currently Individuals suffer tax on their UK income and gains in the same way as other UK residents, they only pay tax on their foreign income and gains (FIG) when these are remitted to the UK.

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By Brian Rudkin

30th October 2024

Autumn Budget 2024: Employment tax changes and compliance

The main headline on employee taxation that was slipped into the official Budget documentation after the Chancellor’s speech, is the announcement that employer-provided Double-Cab Pickup Vehicles (DCPUs) over one tonne will no longer be taxed as company vans from 6 April 2025.

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