When a company is sold, it is often partly for consideration which is deferred in one way or another. Sometimes this will take the form of a debt, such as loan notes. Effectively, the vendor is lending the purchaser the… Read more

Inheritance tax is possibly the least popular of the main taxes. However, in most cases, no IHT is payable on transfers made to a spouse or civil partner – regardless of whether this takes place during the lifetime of the… Read more

The annual investment allowance (AIA) has been at a temporary increased amount of £1 million since January 2019. This was supposed to revert to £200,000 after 31 December 2021 but has been extended for various reasons until 31 March 2023…. Read more

Penalty reprieve ends and interest rate hike Any taxpayer that was relying on the relaxation of the late payment penalty rules must have either paid their tax bill or agreed a time to pay arrangement before 1 April. Unless there… Read more

Household support fundThe Chancellor confirmed that he would double the amount made available to the Household Support Funds operated by local Councils. The fund provides short-term financial support to vulnerable households struggling to afford household essentials. Business rates relief and… Read more