Inheritance tax rebates linked to falling house prices

Falling house prices around the UK could potentially lead to a rise in claims for inheritance tax rebates, a report has claimed. Inheritance tax is currently charged at 40% on the part of an estate that exceeds the £325,000 threshold. This threshold can be increased...

State ‘should contribute towards funeral costs’

Tax and national insurance contributions (NICs) should be used to contribute towards funeral costs, according to a report. Free healthcare through the NHS and the state pension are among the benefits funded by tax and NICs. Research from SunLife claimed one in six...

Official review for controversial loan charge

Chancellor Sajid Javid has announced an independent review of the controversial loan charge that applies to disguised remuneration schemes. HMRC was authorised by parliament to pursue individuals and companies that used the schemes dating back to 1999. The aim of the...

Think tank demands income tax reform

The Government has been urged to increase capital gains tax to bring its rates in line with income tax ahead of Budget 2019. The Institute for Public Policy Research (IPPR) claimed the Treasury could collect an extra £90 billion over the five years if it were to...

Self-employed owe £1.6bn to HMRC

Self-assessment taxpayers owe HMRC more than £1.6 billion in late payments relating to their 2017/18 tax bills. The deadline for 2017/18 submissions came and went on 31 January 2019, with more than 11.5 million taxpayers beating the midnight cut-off. Despite a record...