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Everyone is entitled to an inheritance tax (IHT) ‘nil-rate band’ of up to £325,000 (for 2025/26) on death, reduced by any gifts which are not exempt within seven years before death. 

Mark McLaughlin looks at when an estate worth up to £1m might be passed upon an individual’s death without an inheritance tax bill.

These appear to be tumultuous times with respect to tax, with the Labour government having passed one Budget and with a Spring Statement on the way at the time of writing. 
Capital gains tax (CGT) has been subject to numerous changes over the last few years; so where are we with it in early 2025?

Chris Thorpe looks at recent developments regarding capital gains tax.

The tax implications of any source of business finance depend upon the nature of the financing and the purpose of the funds. 

Each source carries distinct tax consequences that can impact a business's profitability, tax liability, and financial structure.

Jennifer Adams outlines the tax implications associated with various sources of funding for a business.

Football supporters of a certain age will be familiar with the name of Bryan Robson, particularly the important part he played between 1981 and 1994 in the success of Manchester United Football Club (MUFC). 

Richard Curtis reviews the recent case of Robson v Revenue and Customs on employment status.

You can transfer a VAT registration number if there’s a change of business ownership or legal status.
For example, if:
•    you take over a company and want to keep using its VAT registration number; or
•    your business changes from a partnership to a sole trader or becomes a limited company.

This means the business will keep the same VAT registration number.

Andrew Needham looks at the ‘pros’ and ‘cons’ of retaining an existing VAT number when buying a business or changing the legal entity.

The changes to agricultural property relief (APR) and business property relief (BPR) announced in the Autumn Budget 2024 by Rachel Reeves mean that, for the first time in over thirty years, some farms and other trading businesses will potentially come within the inheritance tax (IHT) net from 6 April 2026.

Kevin Read considers some of the inheritance tax issues on the horizon for trading businesses and farmers.

The UK’s tax rules generally give individuals an annual exemption from capital gains tax (CGT). 

Tristan Noyes looks at the capital gains tax annual exemption and considers a popular planning technique.

The employment-related securities legislation deals with arrangements involving shares and securities provided by reason of employment where the full value of the employment reward provided to the employee is not included in the salary package and is charged to tax.  

Jennifer Adams considers the tax implications of shares in a family company being awarded or gifted to family members of employees. 

A sole trader looking to expand their business might be weighing up the ‘pros’ and ‘cons’ of a partnership or a limited company. They are very different, with not only very different tax consequences, but functions as well. 

Chris Thorpe looks at partnerships and companies and considers which business model might be best.  

Under the loan relationships rules for companies, debits on loan arrangements are not deductible for corporation tax purposes in some circumstances.

Kevin Read highlights a recent case concerning the loan relationship rules for companies. 

When HM Revenue and Customs (HMRC) opens a tax return enquiry, the natural reaction of most taxpayers is to speculate about the reason why their tax return has been selected. In fact, HMRC does not need an excuse to open a tax return enquiry; a small proportion of tax returns are simply selected at random. . 

Mark McLaughlin looks at whether a taxpayer can find out if an HMRC enquiry has been opened as the result of an accusation made by a third party. 

When considering the tricky matter of remuneration planning, there are two things to consider; the amount of remuneration, and what form it takes. 

Chris Thorpe looks at what to watch out for with regard to paying employees and directors.

Despite the reduction in National Insurance contributions (NICs) in Spring Budget 2024, more employees are paying tax at higher rates on their earnings due to the freezing of tax thresholds. Some may find that any pay rise or bonus attracts additional tax and NICs such that the net pay increase is minimal.  

Jennifer Adams looks at some alternatives to rewarding an employee with a pay rise or a bonus. 

Mark McLaughlin looks at company purchases of own shares and warns not to become too focused on the more difficult rules for capital treatment. 

A company purchase of its own shares from a shareholder is a popular ‘exit’ strategy when an individual shareholder is retiring, or a dissenting shareholder is departing.