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Latest Trusts and Inheritance Tax News

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Treasury Minutes: April 2025 – Government responses to tax recommendations

In the Treasury minutes published on 3 April 2025, the Government has responded, among other things, to the Public Accounts Committee (PAC) report from session 2024-25 on HMRC Customer Service and Accounts, and Tax evasion in the retail sector.

04 Apr 2025 00:00 | Published by a Tolley Corporation Tax expert

Updated HMRC interest rates for late and early payments

Following the publication of

28 Mar 2025 00:00 | Published by a Tolley Corporation Tax expert

CIOT response: Inquiry into the Scottish Budget process in practice

The CIOT has published its response to the inquiry into the Scottish Budget process in practice. The response focuses on the effectiveness of the Budget process in delivering tax policy in Scotland and highlights the need for improvements in legislative procedures for devolved taxes.

28 Mar 2025 00:00 | Published by a Tolley Corporation Tax expert

SI 2025/386 Taxes and Duties, etc (Interest Rate) (Amendment) Regulations 2025

These Regulations are made to amend four pieces of secondary legislation to increase the late payment interest rate on amounts payable to HMRC in respect of unpaid tax liabilities by 1.5 percentage points.

27 Mar 2025 00:00 | Published by a Tolley Corporation Tax expert

CIOT issues paper on concerns relating to non-domiciled individuals and “double remittancesâ€

The CIOT has issued a paper outlining its concerns about the wording of certain provisions in the

26 Mar 2025 00:00 | Published by a Tolley Trusts and Inheritance Tax expert

Spring Statement 2025: key tax announcements

The Chancellor delivered the government’s Spring Statement on 26 March 2025. Although not a Budget or ‘major fiscal event’ the statement included a number of tax announcements.

26 Mar 2025 00:00 | Published by a Tolley Corporation Tax expert

Finance Act 2025 receives Royal Assent

Finance Act 2025 received Royal Assent on 20 March 2025.

21 Mar 2025 00:00 | Published by a Tolley Corporation Tax expert

Agent Update: Issue 129

HMRC has published Issue 129 of the Agent Update, providing a round-up of updates and reminders for tax practitioners.

20 Mar 2025 00:00 | Published by a Tolley Corporation Tax expert

Plans to increase the self assessment reporting threshold for trading income and other measures to deliver Plan for Change

The Government has announced that it plans to increase the income tax self assessment (ITSA) reporting threshold for trading income from £1,000 to £3,000 gross within this Parliament. Other measures to help HMRC deliver Plan for Change are also announced.

12 Mar 2025 00:00 | Published by a Tolley Corporation Tax expert

Weekly Roundup HMRC Manuals: 10 March 2025

10 March 2025 - This roundup sets out the most important changes to HMRC manuals over the past week as curated by our editors

10 Mar 2025 00:00 | Published by a Tolley Corporation Tax expert

Updated inheritance tax grossing up calculator

HMRC has published a new version of the IHT grossing up calculator.

06 Mar 2025 00:00 | Published by a Tolley Trusts and Inheritance Tax expert

Non-doms joint sub-group minutes

The subgroup which is chaired by HMRC has published new minutes of meetings.

06 Mar 2025 00:00 | Published by a Tolley Trusts and Inheritance Tax expert

First-tier Tribunal ( Tax Chamber) updates guidance on pdf bundles

The First-tier Tribunal has revised its guidance on the preparation of pdf bundles that was first published in 2021.

04 Mar 2025 00:00 | Published by a Tolley Corporation Tax expert

CIOT Finance Bill 2024-25 briefing

The CIOT has published a Finance Bill 2024-25 briefing on the report stage amendments for non-domicile changes.

04 Mar 2025 00:00 | Published by a Tolley Trusts and Inheritance Tax expert

HMRC Stakeholder Digest - February 2025

HMRC has published its latest Stakeholder Digest (February 2025). This edition includes updates on new campaigns, guidance, and consultations relevant to UK tax practitioners.

03 Mar 2025 00:00 | Published by a Tolley Corporation Tax expert

Reforms to inheritance tax reliefs: consultation on property settled into trust

HMRC has launched a consultation on reforms to inheritance tax agricultural property relief and business property relief intended to apply from 6 April 2026, specifically focusing on their application in relation to trusts.

28 Feb 2025 00:00 | Published by a Tolley Trusts and Inheritance Tax expert

Government proposes amendments to Finance Bill 2025

The UK government has put forward 66 amendments to Finance Bill 2025 to be considered at Report Stage on 3 March 2025.

26 Feb 2025 00:00 | Published by a Tolley Corporation Tax expert

UK-Andorra Double Tax Convention signed

The 2025 UK-Andorra Double Taxation Convention was signed in London on 20 February 2025.

24 Feb 2025 00:00 | Published by a Tolley Corporation Tax expert

Agent Update: Issue 128

HMRC has published Issue 128 of the Agent Update which includes updates and reminders on MTD for income tax, employers NIC changes and filing of returns without an overlap relief figure.

21 Feb 2025 00:00 | Published by a Tolley Corporation Tax expert

Updated HMRC guidance on managing trust details

HMRC has updated the guidance on the online tool ‘Manage your trust’s details’ to show which details can and cannot be changed using the online service.

19 Feb 2025 00:00 | Published by a Tolley Trusts and Inheritance Tax expert

Popular Articles

Foreign tax relief

Foreign tax reliefIncome and gains may be taxable in more than one country. The UK has three ways of ensuring that the individual does not bear a double burden:1)treaty tax relief may reduce or eliminate the double tax2)if there is no treaty, the individual can claim ‘unilateral’ relief by deducting

14 Jul 2020 11:44 | Produced by Tolley Read more Read more

Inter-spouse transfer

Inter-spouse transferIntroductionWhen a chargeable asset is transferred between two spouses or civil partners, there is a disposal by the transferor spouse / civil partner and an acquisition by the transferee spouse / civil partner for capital gains tax purposes. For simplicity, spouses and civil

14 Jul 2020 12:01 | Produced by Tolley Read more Read more

Research and development (R&D) relief ― overview

Research and development (R&D) relief ― overviewThis guidance note provides an overview of the research and development (R&D) tax reliefs for companies.See the Research and development tax relief summary diagram which summarises the R&D tax relief.See also Simon’s Taxes D1.401.For a factsheet which

14 Jul 2020 12:22 | Produced by Tolley in association with Will Sweeney Read more Read more