Weekly tax brief | 16 August 2022

Energy crisis solution requires a longer-term tax vision
Chris Etherington
 As politicians showcase their differing strategies to tackle the impending energy crisis, the focus appears firmly fixed on how to provide financial support in the short-term. As well as dealing with the immediate challenges, there has never been a clearer opportunity to set out the UK’s longer-term tax policy to tackle climate change, meet the UK’s net zero ambitions and become less reliant on volatile global energy markets.

Change your entitlement to inheritance after the donor has died
Rachel de Souza
 A recent tribunal case highlights that families shouldn’t just consider inheritance tax on death. It’s also important to consider deeds of variation to prevent unnecessary capital gains tax charges arising down the line when transferring assets around the family.

Cost of living pay rise could leave families with penal tax bills
Matthew Todd
Cost of living pay rises and one-off bonuses are becoming more common, but how much of that pay rise is actually ending up in taxpayers’ pockets? Some families could be in for a significant tax shock.

Should HMRC be doing more to keep it in the family?
Kate Aitchison
As cohabiting couples become the fastest growing family type in the UK, the disparity in tax treatment when compared with equivalent married spouses and civil partners could mean that they can’t afford not to formalise their partnership with a wedding.

HMRC changes its approach to managing taxpayer debts
Matt Taylor
With HMRC playing a key role in implementing the emergency support measures during the pandemic, their latest accounts highlight a change in their approach to managing taxpayer debts, with more debt management staff being recruited, more write-offs expected and breathing space being given to those struggling with their mental health.

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