Accurate probate values are key to assessing inheritance tax (IHT) liabilities on farms, especially when they include development potential or working machinery. Julie Butler FCA, partner at Butler & Co explains the tax implications

Edinburgh is set to become the first UK local authority to introduce a ‘tourist tax’ after councillors agreed a proposal for a Transient Visitor Levy (TVL) scheme, which could be introduced next year if it wins approval by the Scottish government

Probate fees are set to be hiked up to £6,000 for the largest estates as the government plans to overhaul the death tax from April 2019, a measure delayed from 2017 due to the early general election

As couples around the UK get ready for Valentine’s Day, for those wondering whether this is the moment to ‘pop the question’, the ICAEW says that while it may not be the most romantic reason to propose, getting married or entering a civil partnership could have tax benefits

HMRC has issued a warning about so-called ‘phoenixism’ tax avoidance schemes that try to avoid an income tax charge for shareholders on distributions when winding up a company, and has detailed reasons why attempts to get around the new rules will not work

The ever daunting volume of tax code leaves taxpayers confused and liable to be caught out by ever more arcane tax rules. Yvette Nunn CTA, founder of Berkeley Associates, gives a candid view of some of the more complex tax traps from compliance with non residential CGT to the risks of falling foul of the annual allowance when saving for a pension 

Harry Potter star Rupert Grint has failed in his latest attempt to claim a £1m tax refund, after an Upper Tribunal ruled the actor was not able to change his accounting date in the way he had intended, because his accounting records did not support the necessary requirements

The Scottish Budget was approved by 67 votes to 58 with Finance Secretary Derek Mackay getting backing from Green MSPs, after he agreed to boost to local government funding and implement an alternative system to council tax

A record 93.68% of self assessment tax returns were completed by yesterday’s midnight deadline, with 700,000 taxpayers filing last night, according to HMRC

HMRC has won an appeal at the Court of Appeal over its decision to serve an information request to a long-standing non-UK resident, in a landmark decision about the scope of the tax authority’s powers beyond the UK borders

The key HMRC filing deadlines from February to July 2019 including Forms P46(Car) for quarter ended 5 Jan, PAYE cheque payments for month ended 5 Feb and payment of outstanding income and CGT in respect of personal tax returns for 2017/18 to avoid 5% surcharge

HMRC repaid over £30m to pension savers who had been taxed incorrectly on lump sum withdrawals in the last quarter of 2018, while the total paid back since the start of pension freedoms in April 2015 now tops £400m, prompting calls for a change in approach