Current Issues

A handy summary of the residence nil-rate band in relation to inheritance tax

Many of us want to give some of our assets to loved ones, but inheritance tax (IHT) rules can be confusing.

In this article we explain the qualifying criteria for Private Residence Relief. This relief enables some people not to have to pay Capital Gains Tax on the increase in the value of their home over the time they owned it.

In this issue we cover the latest FCA developments and guidance notes for the sector.

A summary of the key points in the FCA’s Consultation Paper CP24/20 and its implications for payments and e-money firms.

Production companies in the broadcast industries will soon be able to claim an enhanced rate of audio-visual expenditure credit (AVEC) on their UK visual effects (VFX) costs.

In their Winter update, Shipleys VAT specialists touch on VAT on school fees and vigilance against VAT-related fraud.

Some tax planning pointers to consider in the run-up to 5 April 2025.

All of the Shipleys LLP team would like to wish our clients and contacts a very Merry Christmas and a Happy New Year.

The 2024 Autumn Budget announced a number of changes to UK inheritance tax. Here we explore the tax liability implications.

In this article we spotlight the various capital gains tax measures announced in the 2024 Autumn Budget, consider their implications and suggest some tips on what to do.

UK businesses who trade with/within the European Union (EU) should prepare for significant changes to EU VAT rules.

The UK’s tax regime for non-domiciled individuals (non-doms) is set to change on 6 April 2025.

Payrolling benefits in kind, which is already an option available to employers, will be compulsory for all from April 2026.

How does Rachel Reeves intend to turn around the UK economy?

The UK independent film tax credit (IFTC) was initially announced in the 2024 Spring Budget. In October, the UK’s Labour government confirmed its go-ahead and issued further information.

The Employment (Allocation of Tips) Act and a Statutory Code of Practice came into force on 1 October 2024. They will impact businesses, their employment policies and payroll systems across the leisure and hospitality sectors.

How to be tax savvy with your charitable giving and help charities gain more from your donations.

In this issue we cover the latest FCA developments and guidance notes for the sector.

Fraudulent letters pretending to be from HM Revenue & Customs are being sent to businesses and should be ignored.

Important factors UK residents need to be aware of to minimise tax liabilities.

Many businesses are moving to online accounting as it brings a number of practical benefits and helps compliance with HMRC's Making Tax Digital

Changes to student loans in 2023 may have increased the debt burden for some graduates. We look at what families can do to help.

In the second of our two-part series on family trusts, we look at some further tax advantages of trusts and share an example.

In the first of a two-part series of articles, we look at the types of trusts and where they can be useful.