The SDLT holiday has tempted many to purchase buy-to-let properties, but their new venture may not be as lucrative as it seems. Changes to tax relief for mortgage interest can easily affect the tax liability, but less known is the impact on Child Benefit and Student Loan repayments. Younger people and parents may be in for a surprise from their tax return and could be forced to increase rents to make their investment worthwhile.
Changes to NHS pensions announced last week could lead to GPs accelerating retirement plans, armed with a larger pension pot at age 60 and up to five-figure tax refunds.
Ian Bell, partner at leading audit, tax and consulting firm RSM, provides his view on the outlook for the travel sector in 2021.
Natalie Ord, M&A and Private Equity partner at leading audit, tax and consulting firm RSM, takes us through the outlook for the year ahead.
The European Parliament recently commented that the EU’s list of tax havens is ‘confusing and ineffective’. This seems to be stating the obvious, for several reasons.
So far, most government information and news reports have concentrated on the impact of Brexit on business, but how does the UK’s departure from the EU affect individuals moving their personal possessions cross border?
The House of Lords inquiry into HMRC’s progress in implementing Sir Amyas Morse’s loan charge review concluded that, 12 months on, HMRC has come up short in a number of areas.
In recent months HMRC has issued sporadic letters to taxpayers who have participated in tax avoidance arrangements, inviting them to come forward and settle their affairs. But is there a real incentive?
Some NHS workers may be taking home less than 30p in the £1 for overtime worked, and others may inadvertently fall into a pensions tax trap where marginal tax rates are over 100 per cent, effectively paying to work.
Stamp duty was introduced as a four-year temporary tax in 1694 to pay for the war against France. Over three centuries later, we’re seemingly still footing the bill as successive governments favour the easy tax revenues it generates. As the Chancellor comes under pressure to extend the Stamp Duty Land Tax (‘SDLT’) holiday, we ask the question: should we just scrap SDLT?