RELIEFS

There were several measures introduced by the 2025 Budget that will be of particular interest to HNW internationally mobile individuals, and I highlight a few of these below. £5m IHT cap for pre-October 2024 EPTs: There will be a £5m cap...

Andrew Kerr

Emma Heelis-Adams

The draft legislation capping 100% BPR and APR has been published. Emma Heelis-Adams and Andrew Kerr (Burges Salmon) explore the details.

Ritchie Tout

The recent changes to the Employee Ownership Trust rules bring the regime back to its intended purpose – and may impact many valuations, writes Ritchie Tout (Azets).

Shares in solar electricity companies did not qualify for EIS reliefs

Steve Wade

The proposed reforms to Overseas Workday Relief could have greatly simplified administration for taxpayers, agents and HMRC. Steve Wade (EY) examines what’s actually been proposed.

Business investment relief withdrawn due to director’s loan account.

Follower notices and penalties: R Baker v HMRC [2024] UKFTT 126 (TC) (6 February 2024) is the second case in which the tribunal has allowed appeals against penalties under the follower notice regime arising from the taxpayer participating in a scheme...

Clare Wilson

Edward Reed

Tensions between transparency and privacy and some recent tribunal decisions are reviewed by Clare Wilson and Edward Reed (Macfarlanes).

Penny Simmons

The current consultation into the R&D tax credits system provides an opportunity for the government to initiate improvements to encourage investment, writes Penny Simmons (Pinsent Masons).

Heather Self

In our continuing series, Heather Self examines some of the tax issues that make the headlines of the national press. This week, she looks at the cost of tax reliefs.