Since Trump imposed tariffs on Canada and other countries, provincial governments have started to curb their relationships with U.S. businesses. Last month, Alberta refrained from using Bank of America Corp. when it sold a euro-denominated bond deal, a break from its practice for such sales over the past six years.
The UK’s £8 billion-a-year R&D tax credit scheme is facing a major shake-up as the government moves to tackle widespread fraud and error while improving accessibility for genuine claimants. Proposals outlined in a consultation published alongside the Spring Statement suggest that businesses may soon be required to obtain formal pre-approval — or “advance assurance” — […]
Individual Savings Accounts (ISAs) are a popular way to save and invest in the UK due to their tax advantages. However, if you’re in a relationship, married or just wondering if you can open a joint ISA with someone, the answer is no. Unfortunately, joint ISAs are not allowed under current UK tax rules. This […]
HM Revenue and Customs (HMRC) has revealed that inheritance tax (IHT) receipts reached £7 billion between April 2024 and January 2025—£700 million more than during the same period last year—putting the government on track for another record-breaking year for IHT revenue. With £7.499 billion collected in the 2023–24 tax year, the latest figures suggest this […]
Specialist agricultural lawyers at Clarke Willmott LLP have reported a surge in enquiries about pre-nuptial and post-nuptial agreements from farming families, following recent government changes to inheritance tax on farm assets. With succession planning now a pressing concern, private client and family law specialists are seeing increased demand for legal advice to safeguard farming assets, […]
A landmark tribunal ruling could provide major inheritance tax relief for families who engaged in historic ‘home loan’ schemes, potentially saving them six-figure sums in tax bills, according to national law firm Clarke Willmott LLP. The ruling in Elborne v HMRC overturned a previous decision that would have allowed HMRC to claim inheritance tax on […]
HM Revenue & Customs (HMRC) has significantly increased the number of Research and Development (R&D) tax relief claims it has “corrected” using controversial powers, sparking concerns that the tax authority is bypassing due process. New data obtained by accountancy firm Price Bailey through a Freedom of Information request reveals that HMRC’s Fraud Investigation Service (FIS) […]
Small and medium-sized enterprises (SMEs) in Britain are continuing to repay debt at levels more than 20 times higher than before the pandemic, according to industry data. The Department for Business and Trade says this illustrates the lack of “competitive downward pressure” on loan prices, prompting it to open a review into the supply of […]
Small and medium-sized enterprises (SMEs) are bracing for a significant rise in National Insurance (NI) contributions after last year’s Autumn Budget, in which Chancellor Rachel Reeves announced higher employer NI rates and a lower threshold from 2025/26. Although the Treasury expects to raise £25 billion annually to help plug a public finances deficit, concerns are […]
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