Displaying 10 of 16 results
Retaining protected status

17 July 2020

It’s important to review how your life tenant accounts are structured to make sure you don’t lose protected trust status. This article explores protected settlements, problems arising from operating the life tenant’s account and taxing trust income.

The impact of removing tax breaks for independent schools

17 September 2019

Last week, the Daily Telegraph reported on a leaked shadow Treasury document which revealed Labour proposals to impose VAT on independent school fees and remove their discounted business rates. So what impact would this have on independent schools and their fee-paying parents?

Risk to trustees from extended trust registration requirement

10 September 2019

As trustees and agents alike get to grips with the HMRC trust registration service (TRS), a change to EU law extends the net and the risk of trustees failing to meet registration obligations.

Tax proposals for the near future

20 July 2019

The Conservative Party leadership contest has now whittled down the contenders to the last two. But what are their tax proposals for the near future?

Who makes gifts & does IHT really matter?

22 May 2019

HMRC has recently published a study examining the behaviour of ‘gifters’ - those who have, in the past two years, made a single gift of £1,000 or more, or multiple gifts of greater than £250 totalling more than £3,000. It is hoped that the findings will help simplify the inheritance tax legislation so that it is fit for the 21st century.

Tax changes for non-residents owning UK property

13 May 2019

Significant and wide-ranging changes are being introduced in relation to the taxation of UK property, some of which already apply for transactions taking place from 6 April 2019, others taking effect from 6 April 2020.

Double success for RSM at the Citywealth Powerwomen Awards
Rachel de Souza

27 February 2019

It was a double win for RSM, the leading audit, tax and consulting firm at the seventh Citywealth Powerwomen awards, that recognise individuals and companies who maximise the potential of women in the wealth management sector.

Non-reporting funds
Rachel de Souza

09 November 2018

We would like to make you aware of an announcement from HMRC about a drafting error relating to the taxation of ‘protected trusts’. Although the issue sounds rather academic and pedantic, it could have a significant real-world impact, and may require action to be taken to avoid ongoing UK income tax liabilities arising.

Will the Chancellor tinker with pensions in the Budget?
Rachel de Souza

01 October 2018

Rachel de Souza, tax partner at RSM, comments on the latest pension contribution and tax relief statistics by HMRC.

Speciality debts - new HMRC policy statement
Andrew Robins

24 September 2018

HMRC have just published updated guidance on the subject of the situs of ‘specialty debts’. This is potentially important for any non-UK company or trust that is owed money and could have an inheritance tax impact for shareholders/settlors as well.