The Chancellor, Philip Hammond, has asked the Office of Tax Simplification (OTS) to undertake a review of the Inheritance Tax (IHT) system to ensure that it meets the needs of modern households. In a letter to the OTS, an independent … Continue reading →

Former Conservative Treasury Minister, Lord Jim O’Neil has told the BBC that gloomy predictions for the post-Brexit UK economy are likely to be ‘dwarfed’ by global growth figures surpassing expectations. He said: “I certainly wouldn’t have thought the UK economy … Continue reading →

A new report from think-tank, the Resolution Foundation, predicts that so-called ‘millennials’, those aged between 17 and 35, will receive the biggest inheritance of any post-war generation from their baby boomer parents and grandparents. The think-tank estimates that the average … Continue reading →

A ban on passing on charges from credit card providers to consumers, which came into effect last month, is hitting small businesses in the pocket. Businesses are now faced with the option of either increasing prices for all customers to … Continue reading →

HM Revenue & Customs (HMRC) has once again revealed the worst excuses that taxpayers have given them for failing to meet the 31 January Self-Assessment (SA) deadline. Whilst there are sometimes reasonable excuses for a late submission, such as a … Continue reading →