When someone dies, their estate may need to go through a legal process called probate before assets can be passed on. Part of that process involves telling HMRC about the estate’s value. According to HMRC’s inheritance tax statistics, only around 4% of UK estates pay inheritance tax each year, yet many more still have reporting […]
Case study: Complex Self-Assessment Tax Returns – Multiple Income Sources Scenario A client approached ETC Tax needing assistance with a complex Self-Assessment tax return. Their affairs include income from employment, rental properties, dividend income, investment profits and offshore bank interest, making it difficult to ensure all income has been reported correctly and tax relief has […]
Mendapatkan penghasilan tinggi di Inggris berarti tanggung jawab pajak yang lebih besar dan peluang melakukan kesalahan yang lebih besar. Mendapatkan penghasilan tinggi di Inggris berarti tanggung jawab pajak yang lebih besar dan peluang melakukan kesalahan yang lebih besar. HMRC menerima lebih dari 11,48 juta pengembalian pajak self-assessment pada tahun pajak 2024/25, dan sebagian besar dari […]
Find out what our members are asking this month… Q My client recently set up a registered company in France to expand its trading activities to France. He has incurred around £3k in costs, including solicitor’s fees and incorporation costs. The French entity has not received any income and will not receive any income in […]
Introduction For many taxpayers, filling out a Self-Assessment SPT is relatively easy. However, when your affairs involve multiple sources of income such as investments, property, trusts, offshore assets, stock transactions, crypto assets, or significant wealth, the risk of something going wrong can increase dramatically. HMRC continues to focus its compliance activities on higher risk and […]
Starting in 2028, small and micro businesses will need to report their profits and losses. For small and micro business networks in the UK, filing annual reports will be a big change. The archiving process has traditionally been a relatively efficient process with minimal disclosure. Under long-standing regulations, small corporate entities can utilize “stuffed” or […]
Being named as an executor feels like an honour, but it comes with real tax responsibilities that many people are not prepared for. HMRC collected over £7.5 billion in Inheritance Tax in 2023 to 2024, according to HMRC statistics, and mistakes on estate returns are one of the main reasons families end up paying more […]
When people talk about inheritance tax planning, they often lump it all together under the heading “protecting the family wealth.” In reality, there is a big difference between inheriting wealth and inheriting a business. Both may be part of your legacy, but the planning challenges, risks and opportunities can be very different. What works for […]
For most people, tax returns fall into the “work I don’t want to do” category. It’s something that needs to be sorted out, submitted to HMRC and then quickly forgotten about until the following January. But in reality, tax reports are often much more interesting than that. For business owners, property investors and families with […]
Why more taxpayers are paying Capital Gains Tax than ever before HMRC’s latest figures show that Capital Gains Tax receipts reached £24.3 billion during the 2025/26 tax year. While increases in asset values certainly contributed to this increase, revenue growth was also a consequence of successive reductions in existing relief and allowances. As a result, […]
